Multi-brand travel agency company Travel Leaders Group" /> David H Boggs Search Marketing Blog: Travel Leaders survey reveals concrete data on impact of favorable Pound and Euro exchange rates on travel for Americans

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Travel Leaders survey reveals concrete data on impact of favorable Pound and Euro exchange rates on travel for Americans

19 October 2016 (Edited 19 October 2016)

Multi-brand travel agency company Travel Leaders Group has reported the results of its Fall 2016 Travel Trends survey.

Key findings:

  • Top 5 international destinations:
    1. London - for the first time
    2. Caribbean cruises
    3. Cancun
    4. Rome
    5. Paris
  • Top 5 US destinations:
    1. Maui - also for the first time
    2. Orlando
    3. New York City
    4. Las Vegas
    5. Alaska cruises
  • UK Brexit vote has been “incredibly favorable” for American travelers.
    • 45% of travel agencies said that the increased value of the USD vs. GBP amplified interest in the UK of leisure travelers.
    • Of those 45%, 62% also reported increased UK bookings.
  • Europe bookings
    • 75% reported overall bookings for land-based travel equal to or up from 2015 but only 1% said stronger USD was a factor.
    • 83% reported bookings for luxury land-based travel equal to or up from 2015, and 71% said the stronger USD was a factor for luxury clients.
  • Upcoming leisure travel to Europe - when clients plan to go:
    • Right now 9%
    • In next 3 months 30%
    • In next 6-9 months 19%
    • In next 9-12 months 18%
    • In next 12+ months 10%
    • Holding off on European trips 14%
  • Main reasons for holding off on European trips:
    1. Terror threats
    2. Political uncertainty (e.g., Brexit elections)
    3. Opting for domestic destinations
  • Overall bookings for 2016: 79% said bookings were equal to or up from 2015.
  • Optimism: 94% said they were optimistic about business for the rest of this year - down from 97% at this time in 2015.

Survey of 1,145 US travel agencies was conducted between 28 July and 24 August 2016.

French tourism chiefs must find it encouraging that Paris is till in the top 5 international destinations.

There’s hard evidence here that the weaker GBP following the Brexit referendum vote is benefiting the UK tourism industry, and London in particular.

Interesting that only luxury travelers are influenced by the stronger USD/weaker EUR and GBP - suggests most of these people worked for their money and want to hang onto as much of it as possible.

Those people who are holding off on European trips and opting for domestic destinations make good targets for some smart marketing emphasizing the safety of almost anywhere in the USA.

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