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Luxury travel by Bluechoi |
New York, N.Y.—Although wealthy Americans are expected to begin spending differently, travel doesn’t appear as though it’s going to take a cut, according to a new survey.
Over 70 percent of America’s affluent consumers (about 10 percent of families in the United States) said the current economy has affected their sense of financial security, found American Express Publishing and Harrison Group. “The economic difficulties of the past year have begun to significantly change the way America’s most financially successful families view their future,” says Jim Taylor, vice chairman of the Harrison Group.
And as spending for personal items from clothing to jewelry is expected to decline further, spending for the family— including travel— is trending up, the survey reports. Cara David, co-director of the study and a senior vice president at American Express Publishing, says that this spending is up even over June numbers.— Hilary Solan
October 23, 2008 at 8:03 pm
Well, with gas prices now on the (albeit slow) downward trend, people don’t seem to be giving up travel.