Travel industry eyes Consumer Confidence index as new report shows close link to holiday intentions

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-20

Newly-released Roy Morgan data shows just how closely travel intentions are linked to Consumer Confidence. With gains in Confidence continuing, the Travel and Tourism industry will be hoping to see Australians’ holiday intentions start to climb out of the chasm caused by COVID-19. The latest Roy Morgan Leading Indicator: Holiday Travel Intention report shows that during the April to June quarter, a period in which the full scale of the pandemic’s effect was becoming apparent, 5.79 million Australians said they intended to take a holiday in the next 12 months. This is well under half the 13.2 million who had that intention in the equivalent quarter of 2019. The report measures intention to travel in the short- to mid-term, rather than simply recording past trips – by doing so it allows the industry to plan strategically. The data is drawn from Single Source, the country’s largest, deepest and longest-running repository of information on consumer behaviour. It shows that people’s intention to travel over the next 12 months is tightly linked to the confidence they are feeling in the overall economy.

CORPORATES
ROY MORGAN LIMITED

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