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2021 ‘travel boom’ among Americans less likely than thought

2021 ‘travel boom’ among Americans less likely than thought

As the days tick upwards into 2021, many industries are hoping for a post-vaccine boom to affect the economy. Many, especially those in the travel industry, are hoping for many full pockets and wishful travelers for the new year. However, a lot of this travel is contingent on things that are still uncertain, and this might serve to lower the numbers of travel in the coming year. Here are some of the factors that will play into travel this coming Spring and Summer.

Vaccines on the way

For many, the release of a vaccine in December was a light at the end of the tunnel. However, the reality is that many Americans will need to wait a considerable amount of time before they fully feel comfortable to take the shot, or to travel without having one. Over half of a thousand people who were surveyed said that they would not even consider traveling until they received the vaccine, regardless of how many people around them have the vaccine.

In addition, the numbers are not large of people who will travel three months, or even six months, after they receive the vaccine. Overall, Americans are skeptical of the vaccine and want to make sure it works, before putting it to the test.

Weighing the wallet

One of the bigger issues besides the distribution of the vaccine is the distribution of paychecks. While many Americans do have pockets full to bursting and are waiting for a chance to travel, there is also a large portion of the populace struggling with unemployment and a buildup of bills. Many industries have had to cut wages, lay off employees, and overall have become less profitable, making them cut all corners just to survive. Many people who would like to travel are the corners who have been cut. When it comes down to the Bahamas in the summer or bread on the table, many families will sadly, but wisely, choose the latter.

The dichotomy between the upper and lower classes is almost shocking, with over two-thirds of those who make $100,000 or more planning to travel in 2021, while barely a third of those who make $50,000 or less plan to travel in the coming year. In short, the vaccine is a large concern for the travel boom of 2021, but not as much as the financial problem.