The national tourism industry is on the slow path to recovery despite little improvement in consumer sentiment, according to a new study.
Traveler sentiment, judged by six criteria including perceived affordability and interest in travel, has flatlined since early 2009 after a steep improvement from 2008, according to a study conducted by the U.S. Travel Association and marketing group Ypartnership. The sentiment index remains near 90 percent of the benchmark taken in May 2007.
But important components of that index show more promise for the industry, Peter Yesawich, chairman and chief executive of Ypartnership, wrote in a blog post. The component measuring "money available for travel" rose to 82 percent of pre-recession levels, up 12 points from April 2009, indicating travelers may be ready to start spending more.
Interest in and time for travel also improved, while perceived affordability, quality and safety of travel decreased.
People won't travel if they don't feel they have the money or time for a trip, said Rich Harrill, director of the Alfred P. Sloan Foundation Travel & Tourism Industry Center at the University of South Carolina.
"Perception is reality," Harrill said. "Travel sentiment is everything ... how people feel about their own finances and how people feel about a destination."
Myrtle Beach is well-positioned to capture tourists concerned about finances because of its reputation as an affordable destination, he said. The Grand Strand generally leads trends in the industry, he said, so it may recover earlier.
Another part of the survey found that more people said they would travel between June and August compared with the same period last year.
"Although it may be premature to declare this the beginning of the long-awaited recovery of the travel industry, the data suggest we have finally bottomed out and are now poised for a rebound," Yesawich wrote.
This may be good news for Grand Strand tourism, which has been in a slow-motion recovery, said Brad Dean, president and chief executive of the Myrtle Beach Area Chamber of Commerce.
Travelers who are strapped for cash may stay for a shorter time and spend less money during their trip, Dean said. Protecting the family vacation may mean cutting additional trips to the Grand Strand, such as a father skipping his golf trip with friends, he said.
But the Strand still has many loyal vacationers who won't to cut out their vacation all together, he said.
"For the core base of travelers that come through the Myrtle Beach area on their vacation, travel is a birthright, and families will do whatever they can to make a vacation happen," Dean said.
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