Travelers Plan to Spend More Vacationing in 2004

American travelers say they plan to dig deeper into their wallets in 2004, spending more for longer vacations, motivated by an enhanced desire to unwind, according to the American Express Leisure Travel Index.

In addition, more are planning to travel internationally as well as domestically. On average, travelers expect to spend $2,962 in 2004 on airfare, accommodations, sightseeing, meals, souvenirs and other expenses for all longer vacations, up from the $2,163 they said they planned to spend in 2003. The number of travelers planning to spend more than $5,000 will nearly double (rising from 6% to 11%).

According to the American Express Index, which provides consumer travel data for year-end 2003 through the end of 2004, nearly one-half of travelers (48%) planning to travel by plane, said they plan to travel both domestically and internationally, a leap from 36% in 2002.

"This is good news for the travel industry, with consumers reporting a renewed desire to venture further from home," said Rocco Laterzo, senior vice president and general manager, travel and entertainment industries, American Express. "Travel providers are working harder than ever to deliver real value to the leisure traveler and consumers seem to be responding with their wallets."

While spending is up, travelers across all income groups describe their travel style as "value-minded, seeking good quality within a budget," (78%). And contrary to conventional wisdom, 87% of higher income households (incomes of $50,000-$75,000) describe themselves in this value-minded category.

Only about one in ten (12%) of long vacationers say they "travel on a shoe string by seeking the lowest price available in all travel purchases." And even fewer (7%) say they require "luxury at any cost." The younger set, 18-34, is only a little more likely to travel "on a shoe string" than Americans 55-64 (19% vs. 13%).

A majority of travelers (63%, up from 57% in 2002) say their ideal vacation is "a place where you can relax and unwind," followed by a place to spend "quality time with your family" (56%, down from 58% in 2002). The "ideal" vacation also includes enjoying "historical and cultural activities" (48%, up from 43% in 2002), "a place that has great outdoor sports activities, such as hiking and skiing" (32%, up from 30%), and a "place known for great entertainment" (30%, up from 27%).

Others want a place they´ve "read about in books or seen in the movies" (27%), "an all-inclusive vacation" (24%), and a "place where children´s activities take place so that I can relax" (20%). And Fido appears to be going along with the family, with 13% of respondents describing an ideal vacation as one that is "pet friendly."