PURCHASE, N.Y.—Americans are spending a record amount of money on travel–both lodging and airlines–according to MasterCard’s SpendingPulse report.
“Travel is a great barometer for the economy, as it’s a plan-ahead activity. People spend on travel when they are confident that they’ll have a job tomorrow and two months from now when their trip rolls around,” said Sarah Quinlan, SVP, market insights, MasterCard Advisors. “In September, we saw total retail sales excluding auto up 1.4% year over year, and total sales excluding auto and gas up 4.8%. That’s because cheaper gas means more money in consumers’ pockets—and more money in the cash register. This is particularly relevant for travel, whether you’re going by car or air.”