Wonder

Research Outline

Prepared for Camden B. | Delivered May 22, 2020

Average Amount Spent on Vacations by Americans, 2010 v. 2020

Goals

Determine the average amount Americans are projected to spend in 2020 compared to the amount spent by Americans in 2010 (broken down by expense category) to help develop a strategy for tourist destinations.

Early Findings

Vacation Spend Steadily Increased from 2010-2019Americans spent a record amount on vacations in 2019, exceeding the $2,037 mark for the first time since the Vacation Confidence Index began. 
The average anticipated spend in 2010 was $1,653.
The amount spent on vacations by Americans is dependent on what region they are in. Americans from the West spend the most at an average of $2,265 per year. 
Reduced Spending and Travel due to COVID-19Over 75 percent of Americans are still planning to travel between June and December 2020 regardless of the COVID-19 pandemic (unless their hometown is under lockdown), according to an April 15 survey.
 31 percent of American travelers are planning on reducing their spending on expenses by up to 40 percent. 
 34 percent of American travelers said they would cut their budgets by more than 40 percent. 
Travelers in 2020 are expected to utilize vacation rentals more than hotels, prefer driving over flying, and use more travel insurance and personal travel advisors as a result of the COVID-19 pandemic. 

In addition to this public search, we scanned our proprietary research database of over one million sources and were unable to find any specific research reports that address your goals.

Summary of Early Findings in Relation to GoalsOur first hour of research involved outlining the project to determine if the requested information is available. 

There is readily available public information about the average American vacation spend from 2010 onward, and the anticipated amount that would be spent in 2020 (pre-COVID-19 outbreak). There is less information available on the anticipated spend in 2020 now that the COVID-19 pandemic is underway, but there is some. 

Based on our findings, we recommend the following next steps to best inform a tourist destination strategy in 2020: