223- TravelBoom Short Fuze: It’s The Economy Stupid

Welcome to the TravelBoom Short Fuze! This is a bite size episode of the Hotel Marketing Podcast that gives you the data to make smarter decisions. Today’s episode we cover James Carvelle’s famous quote, “It’s the economy stupid.” James was talking about the 1992 presidential election, but his words ring true for those in the travel space today.

Here’s the situation. In our latest edition of the Leisure Travel Trends Study one fact stood out above all others. Only 13.5% of travelers consier COVID to be a major influence on their travel plans. Thats right, 86% don’t really care. This is great right, we can all go on our merry way and get back to where we were before. Not so fast, because just as we slayed one boogyman, another one rises to take it’s place.

What’s that new boogyman? It’s the economy stupid! Every metric measured on the study points to consumers being nervous and changing their travel behavior due to rising costs and a less secure economy.



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