On behalf of Wise, we polled 2,221 U.S. and Canadian adult (age 18+) consumers in May 2022 about their attitudes towards and plans for international travel. One particularly interesting statistic we discovered was that the leading reason for not traveling abroad weren’t worries about COVID, but rather 47% of potential travelers cited worries about not having the money to afford it. Similarly, 27% of respondents cited inflation as their leading reason for avoiding taking trips. These monetary fears outpaced COVID, which only 37% of participants ranking it as their primary travel deterrent. The study also sought to better understand the savings strategies employed by respondents that plan on traveling. A large majority of these travelers (84%), responding that they use money-saving hacks for travel, which include booking during the cheapest days to fly (38%), buying groceries or dining in locally (35%), and even traveling during the destination’s off season (31%). As worries shift from COVID-19 to monetary related concerns, the travel industry will remain in flux.
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