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Economy, Travel

Americans are ready to start traveling again, even with the second wave of COVID-19 approaching

Source: https://forwardkeys.com/

Data Synopsis:

  • The number of travelers passing through TSA checkpoints at US airports in 2020 is only 30% of last year
  • Vacation destinations experience higher travel recovery compared to other US cities
  • Forward airline bookings during holiday season show that Americans are willing to take risks to spend family time together

Dig Deeper:

With the holidays top of mind, data from TSA shows that there is still a significant difference in the number of travelers passing through TSA checkpoints compared to a year ago. The daily average number of travelers passing through TSA checkpoints in 2019 was 2.4 million while in 2020 it is currently hovering around 570,000 a 76% decrease.

It is noteworthy that, this year in particular, there was a significant increase in passengers between June and September, while the prior year saw a more than 20% decline in the same period This indicates that the recovery in travel is far from a function of seasonality.

According to data from ForwardKeys, a leading travel analytics company, forward flight booking demand is still down more than 70% from last year. However, there is an increase in demand surrounding Thanksgiving and Christmas, two major travel periods. These spikes in forward booking demand suggest that Americans are willing to take a calculated risk to spend holidays with family and friends especially when considering their fear of a second wave of COVID-19. According to a recent Gallup survey, 66% of Americans remain worried about the exposure to COVID-19.

Even more interesting is the relatively higher booking rates for popular vacation destinations compared to all other cities. Forward airline booking rates for Denver, Miami, Orlando and Las Vegas are materially higher in October and November.

Denver, one of the most popular skiing and outdoors destinations is experiencing an increase of 70% in airline booking demand from October to early December. Similarly, Miami, a city not only known for its beaches and nightlife but also as the cruise capital of the world, is showing an increase in airline booking demand that is 10% higher than the rest of the country. Orlando, home of a reduced capacity Walt Disney World, is also tracking higher than its peers.

Lastly but not least, Las Vegas, which leads all cities in terms of its dependence on tourism (32% of GDP) is experiencing airline booking demand that is 20% higher than the rest of the country. Could it be that Americans are more willing to risk infection in pursuit of leisure versus traveling for work or visiting family?

To learn more about the data behind this article and what ForwardKeys has to offer, visit http://forwardkeys.com.

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DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.

GET WEEKLY ALERTS

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The email you entered is not valid.

LET US HELP

Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.