Travel Tips for the Summer

Almost every aspect of our economy saw a devastating decline this last year. Industries from A to Z suffered the effects of a COVID Recession, but travel and tourism was hit especially hard. 

In the US alone, travel spending totaled a mere $679 billion in 2020, an unprecedented 42 percent annual decline (nearly $500 billion) from 2019. International travel and business travel suffered the sharpest declines with international travel spending taking a 76 percent dive (compared to 34 percent for domestic travel) while business travel spending fell 70 percent (compared to 27 percent for leisure travel). 

But with Americans lining up to get vaccinated, things are looking like they’re about to change in a big way. As of this writing (and the numbers are increasing daily) there have been 265 million doses of COVID vaccines administered — meaning we’re surpassing the 35 percent fully vaccinated mark, and close to 50 percent having received at least one dose.

While there is still quite a way to go to reach population immunity levels, the infection numbers speak for themselves, showing a marked decline since January. All this points to a light at the end of the tunnel, and a post-COVID world just around the corner — hopefully.

So, like many Americans, you might be looking to take advantage of this reopening and with the summer months ahead, travel is something that may be first on the list. Understandable, considering so many of us were cooped up and haven’t left our neighborhoods or in some cases, our homes for far too long it seems.

Some are even predicting a summer of “revenge travel” with a recent survey showing that traveling was the top item on people’s spending lists, with 40 percent of people saying it was something they intend to dole out cash on. Another 24 percent of people said they want to go on an extended vacation.

While no one in their right mind would discourage a getaway at this juncture, a friendly reminder might be in order though, given the economics. Summer is typically the most expensive time to travel even under normal conditions, and you can bet that this year will be no different.

Airlines and other travel operators are preparing for the higher demand, but they’re also being  cautious not to bring too many more planes back into service to offer more flights, just in case the pandemic takes another turn for the worse and demand dips again, which in turn means that pricing will rise to meet the influx of travelers. The takeaway on that note is to book sooner than later, before prices jump even more than they already have.

Also, keep in mind that with so many people sitting on a stash of airline miles and points, they might not be as valuable as they once were. After all, airlines still need to turn a profit and can’t exactly gift away a huge portion of this upcoming windfall.

Another thing to keep in mind is that if you book soon, and airlines remain true to their “No change fees” policy, you won’t lose anything by booking early and changing plans if you need to — and it might be worth spending the extra amount to qualify for the no change fees by upgrading past your basic economy tickets (which in many cases won’t afford you the no fee policy). This way you can rely on a good seat and a flexible schedule.

Happy trails!

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