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Travel Industry Association of America
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TIA’s Traveler Sentiment Index Declines In Third Quarter 2002
WASHINGTON, DC -- Despite slight
increases in travelers' interest in taking pleasure trips and
perceptions that travel is affordable, the Travel Industry Association
of America’s (TIA) latest Traveler Sentiment Index (TSI) shows a
decline in the third quarter of 2002. The drop is mainly due to
consumer concerns about not having enough time or money to travel. The
overall index fell 5.5 percent to 98.1 in third quarter 2002, down
from 103.8 last quarter.
For two of the five components that make up the TSI—consumer
perceptions of their ability to travel considering demands on time and
considering demands on personal finances—significant declines occurred
(down 13.9% and 12.9%, respectively). Both of these indices are also
at their lowest points to-date. The index measuring consumer
perceptions of travel service quality also fell nearly 4 percent over
last quarter to 100.3. On a more positive note, consumer interest in
pleasure travel is up, with that index increasing more than 2 percent
in the third quarter to 97.7. Consumers also continue to feel that
travel is very affordable, as that index rose to 126.5, up nearly 2
percent versus the second quarter.
Generation X and Y travelers are significantly more negative this
quarter compared to last, with the overall sentiment index for this
group down 8.9 percent to 100.3. This is due to dramatic declines in
perceived ability to travel based on time and money available, with
those indexes falling 27.8 percent and 19.2 percent, respectively, to
their lowest points-to-date. Baby Boomer (age 35 to 54) and Mature
(age 55 or older) travelers show smaller declines over last quarter,
with sentiment indices of 100.1 (-4.8%) and 96.6 (-2.1%),
respectively.
When the overall Traveler Sentiment Index is examined on a regional
basis, the West and Midwest show the only major declines. The overall
sentiment index among travelers living in the West has decreased to
90.1 (down 13.1%). Of those travelers living in the Midwest, the
overall sentiment index has declined 9 percent this quarter to 97.4.
The overall sentiment indices for the South and the Northeast remain
stable at 101.7 and 102.1, respectively.
Due to industry concerns about the effects of September 11, 2001, a
question on travel safety was added starting with the fourth quarter
2001 TIA Travel Sentiment Index Survey. While this component is not
yet calculated in the TSI, it gives an indication of consumer
perceptions of the safety of travel in general. Consumer perceptions
of travel safety are more favorable in the third quarter compared to
last quarter. Matching results from first quarter 2002, half (50%) of
adult travelers now say that travel safety is better than it was a
year ago compared to 43 percent last quarter. This quarter is also
more favorable than fourth quarter 2001, when 37 percent said that
travel safety is better than it was a year ago.
NOTE: TIA’s quarterly Traveler Sentiment Index is conducted four times
per year and is a running gauge of consumers' interest in leisure
travel and their perceived ability to travel. The study consists of
five criteria: interest, time, finances, affordability, and service
quality. The TSI is based on quarterly interviews with approximately
1,000 U.S. adults who have taken at least one trip in the past year.
Each criterion is measured individually and then combined to create an
overall index score. The baseline year for the Index is the year 2000. |
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TIA is the national, non-profit organization representing all components of the $545 billion travel industry. TIA's mission is to represent the whole of the U.S. travel industry to promote and facilitate
increased travel to and within the United States. |
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