Who's ready to get away?
The coronavirus health crisis may transform global travel forever, so it only makes sense that nearly half of Americans polled in a recent study say that their spending plans for future travel have changed, too.
In a report published Thursday, NerdWallet and The Harris Poll revealed the findings from a recent survey of more than 2,000 Americans that asked how the ongoing outbreak has affected their financial habits.
When it comes to booking future tips, 45 percent of respondents agreed that they are more inclined to buy travel insurance for future leisure trips following the COVID-19 pandemic, which has greatly upended the travel industry as a whole.
Notably, only 1 in 5 participants (20 percent) admitted to buying travel insurance for leisure trips before the outbreak. Meanwhile, 15 percent of people polled said they considered investing in travel insurance for pre-pandemic getaways but ultimately opted not to do so.
As for the larger results of the report, 75 percent of participants polled said that they plan to adjust their money-management ethos after the pandemic is through.
Of those respondents who said they’re committed to making change, 38 percent pledged to put more into an emergency fund, while 37 percent said they want to spend less on nonessential purchases.