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How big is the staycationer opportunity?

Written by Tom Ryan

Photo: @Hanni via Twenty20

Foot traffic at retail improved in the UK in August. The progress, according to Ipsos Retail Performance, was due in part to a “greater number of people deciding to stay in the UK this summer rather than venturing abroad on holiday.” Staycations — basically, vacations nearby where you live — have become a global trend in 2020 due to social distancing concerns and travel bans in response to the coronavirus pandemic. According to a survey of 1,105 Americans commissioned by ValuePenguin taken in mid-August, nearly a third of consumers (31 percent) decided to take a summer staycation. “Short road trips, done right, can be every bit as relaxing and rejuvenating as an international trip,” said Matt Schulz, chief credit analyst at LendingTree, the parent company of ValuePenguin, in a statement. The ValuePenguin survey found that 72 percent of Americans did not take a summer vacation this year. Of those who did travel this summer, 71 percent opted for a road trip rather than flying. Staycations are also typically popular during downturns. According to a 2016 survey from AYTM Market Research, the primary reason to head on a staycation was to save money, cited by 67 percent of respondents; followed by not having time for a full vacation, 33 percent; wanting to explore their own community, 25 percent; and looking to support local businesses, 13 percent. Staycationers in 2020 have more options as a number of hotels and resorts, including Disney World, are offering special packages aimed at locals with international tourism on pause. Tripadvisor's Seasonal Travel Index for Fall covering fall trends by U.S. travelers found:
  • Sixty-five percent are planning domestic fall getaways;
  • Fifty-four percent are more likely to consider road trips now compared to before the pandemic;
  • Fifty-five percent of fall travelers are looking to book two-to-five-night stays, with 36 percent desiring one-night stays;
  • Sixty-one percent of U.S. travelers are more likely to consider outdoor or nature trips compared to before the pandemic;
  • Domestic travelers for fall were found to be keener on beach destinations and less interested in central city getaways.

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