Once we get an all clear —- Do you think people will be too broke to travel for awhile?

[Fredflintstone]

In Canada, It appears many will remain unemployed/laid off for at least until the end of May. Like the US, the government here has been handing out emergency money for those affected. My neighbors here tell me they have deferred their mortgage and other payments. From what I understand, they pay the entire owing once the forebearance is over.

Sadly, where I live, we have a double whammy. I live in an Oil rich area and oil prices collapsed at the same time as Covid shutdowns. Lay offs in the oil industry are at stratospheric levels.

From my research, unemployment in the US is going through the roof, especially in places like Las Vegas. I am assuming many are delaying their payments in the US as well.

This translates to many people needing time to recover. They have low or no income and will need to repay their deferred payments. Frankly, many will not have the money to travel for awhile and this will carry forward until they catch up.

What are your thoughts? Do you think travelling will take quite a while to wake up and recover after we get the all clear? Are you ready to travel as soon as it’s all clear?


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[R.J.C.]

Folks living paycheck to paycheck most likely were not travelers to begin with so I don't see much of a difference from a financial aspect. Many may not travel for awhile because they are too afraid to stand near someone else.

 

[Fredflintstone]

Folks living paycheck to paycheck most likely were not travelers to begin with so I don't see much of a difference from a financial aspect. Many may not travel for awhile because they are too afraid to stand near someone else.

You know it’s surprising how many people ding the credit card for travel and then pay for many months imo.

I agree with you. Social distancing is a factor too and will have long reaching effects.

I am very lucky. I can afford to travel and am in good shape. I am sorry to say my neighbors are in a different boat .

I still have my booking for Hawaii in December. I will go he’ll or high water as long as the border opens by then.


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[R.J.C.]

You know it’s surprising how many people ding the credit card for travel and then pay for many months imo.

Not very bright people then IMO.

I do pay for almost everything with a CC when it comes to travel but every month balance is paid in full, no interest incurred, and rewards earned (making the travel even cheaper).

 

[geekette]

I think the people that had money for travel before will have it after. Many are still on work from home or paid leave or ample savings to wait for unemployment checks and stimulus. Retirees are the least financially harmed here, since they didn't lose jobs. Their pensions and SS should be continuing as usual.

Folks that were hurting before are getting crushed so can't even dream of an actual vacation any more.

 

[Iggyearl]

I have to say that my wife and I are blessed to the max. Great SS benefits, she has a state pension, and we both have nice Iras. (although not as nice as before ) I know 3 people off the top of my head who own timeshares. Two are in the same boat as me. The third is a lady bartender who loves Disney and owns a timeshare in Orlando. She is paycheck to paycheck. I have heard her say she needed to pay off her credit card to be able to go back in 3 months. She is not working now.

There are many people on the complaint sites who feel they were deceived, snookered, lied to by salesmen. When push comes to shove, they will not be loyal customers. They are not timeshare USERS. They will take care of food, then car, then home.

 

[AnnaS]

Some might be broke, for some, it will take a little while to get back on track, some will be in the same position and some in a better position.

I guess the answer is a combination of all.

 

[bogey21]

A lot of people who never thought they would get in financial difficulty are getting hammered vis-a-vis layoffs or losing their jobs entirely. Yes, I think many will be too broke to travel. I also think many may not recover for years...

George

 

[Monykalyn]

Folks living paycheck to paycheck most likely were not travelers to begin with so I don't see much of a difference from a financial aspect. Many may not travel for awhile because they are too afraid to stand near someone else.

yeah I think the afraid to travel for awhile will have a bigger impact. But I also think the rampant unemployment is going to be huge too- if folks don’t travel then those employed by the travel industry (who might have enjoyed perks and cheaper travel) will no longer have money etc.

still have my booking for Hawaii in December. I will go he’ll or high water as long as the border opens by then.

I hope you get to go and have a great vacation. Hawaii is on the bucket list. I have a trade I have to use that was supposed to be for France next month. I’ve been playing with airfare to see where it might be fairly cheap and have week available for when we could go.

 

[Panina]

Timeshare travel will resume more quickly as we are obligated to pay mfs.

Other travel, if people have credit to put the traveling on they will. After not being able to travel for awhile and the uncertainty of life lived I believe the thought will be why wait.

 

[Fredflintstone]

Timeshare travel will resume more quickly as we are obligated to pay mfs.

Other travel, if people have credit to put the traveling on they will. After not being able to travel for awhile and the uncertainty of life lived I believe the thought will be why wait.

Agreed.

You made a good point. People will want to travel after being couped up. I can see, “Why not, still got some room on the Visa” with some.

I am tracking the airlines right now. It’s interesting how they are figuring out ways to distance folks in packed in airplanes post covid. It seems the consensus so far is still pack em in but medically screen first and charge fees for the screening. The other option is to make a lot more business class seats and charge premium. As for TS, I just read an article from Hilton saying they will pop up MF to cover the added costs to completely disinfect each unit. These added costs after Covid May slow down travel too for some. It may end up costing more to travel all around limiting the amount of travel happening.


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[TravelTime]

We are in a global recession and it is worse than 2008-2010. How was travel impacted then? I assume it will be similar but worse.

 

[geist1223]

As we are both retired and our retirement payments are secure (State Retirement, Military, Social Security) we will be ready to go as soon as the restrictions are lifted.

 

[bogey21]

I am tracking the airlines right now. It’s interesting how they are figuring out ways to distance folks in packed in airplanes post covid.

I don't know about post COVID-19 but FWIW my ex-wife is a flight attendant with a major airline. She told me yesterday that her last flight between two major cities had 20 in Coach and 1 in First Class. She said it wasn't hard to spread them out...

George

 

[Talent312]

Peep may actually decide to stay at home more.
We may lose a hotel & restaurant chain and cruise line.

They'll have a lot of "non-revenue" travellers with credits.
I have ~$6,000 in credits burning a hole in my pocket.

But I also have a ton of refunds to be used for future travel.
I suspect that deferred travel will be a major deal.
.


.

 

[Big Matt]

1) many people are still going to be worried about getting the virus and will limit travel to places that are crowded
2) travel may not be as fun as it used to be if you still have to practice social distancing. Restaurants that were crowded before will be nearly impossible to get into with limited seating
3) people who may not be broke, may not be able to take vacation right away. Companies are going to need time to recover and get back to normal

 

[Fredflintstone]

1) many people are still going to be worried about getting the virus and will limit travel to places that are crowded
2) travel may not be as fun as it used to be if you still have to practice social distancing. Restaurants that were crowded before will be nearly impossible to get into with limited seating
3) people who may not be broke, may not be able to take vacation right away. Companies are going to need time to recover and get back to normal

You are certainly right about travelling not being as fun when you have social distancing. I travel to meet new people, learn new cultures, have dinner with friends and family and lastly enjoy the sights.

I would never, in my wildest imagination, think a virus pandemic could inflict so much damage. Economies shut down, people isolated, reinventing the wheel on how people interact...

Although I do see this being solved at some point, I suppose I will take more heed to news saying a disease, virus, etc. Is in some foreign land. Heck, I was more concerned about nation conflict and war. This seems more devastating in many respects.


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[pedro47]

I feel we are looking at years to recovery from this COVID - 19 virus. There are just so many people unemployed in the world. Many Small business owners will not be able to open their business (no money & loss of customers), Flying will be hit the hardest in the earlier months because the flying passengers will not want to sit next to any other passenger. The cruise industry will also be hit very, very hard because what happened on the two (2) Princess Cruise ships, the Holland America ship and the new Celebrity Cruise Line ship The Apex.

Timeshare travel I feel is safe, because many owners can drive to their timeshare resort.

 

[Fredflintstone]

I feel we are looking at years to recovery from this COVID - 19 virus. There are just so many people unemployed in the world. Many Small business owners will not be able to open their business (no money & loss of customers), Flying will be hit the hardest in the earlier months because the flying passengers will not want to sit next to any other passenger. The cruise industry will also be hit very, very hard because what happened on the two (2) Princess Cruise ships, the Holland America ship and the new Celebrity Cruise Line ship The Apex.

Timeshare travel I feel is safe, because many owners can drive to their timeshare resort.

I can see people driving more and flying less too. Timeshares will fair out the best in this because of their guaranteed cash flow (MF).


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[Jan M.]

The biggest factor is of course money. People who haven't been able to make their mortgage, rent, car, utility, insurance or credit card payments are going to have to make their priority getting caught up on those payments. Too many families in all income levels live to the maximum of their income. For the one's that get behind it's not going to be easy to get caught up. People who count on their investments, their 401k's, etc. to supplement their social security and/or pension income are going to be cautious in their spending until the market fully recovers. After what many are experiencing, people who are concerned about their job security are going to tighten their belts to build up some rainy day money. We keep hearing that there is a good chance we will see a resurgence of the virus in the fall. Some people will always be the grasshoppers but we will likely see more people at least for a while making an effort to be more like the ant.

I've been wondering if a lot of school districts will decide to start the 2020-2021 school year much earlier to help the kids catch up.

 

[mpizza]

Discretionary funds will be limited even for those who remain employed. Many of my friends who are employed in corporate positions have across the board 20% cuts in salary starting May 1st, and VPs and above 50-75% cuts in pay with no bonus.

Maria

 

[Fredflintstone]

The biggest factor is of course money. People who haven't been able to make their mortgage, rent, car, utility, insurance or credit card payments are going to have to make their priority getting caught up on those payments. Too many families in all income levels live to the maximum of their income. For the one's that get behind it's not going to be easy to get caught up. People who count on their investments, their 401k's, etc. to supplement their social security and/or pension income are going to be cautious in their spending until the market fully recovers. After what many are experiencing, people who are concerned about their job security are going to tighten their belts to build up some rainy day money. We keep hearing that there is a good chance we will see a resurgence of the virus in the fall. Some people will always be the grasshoppers but we will likely see more people at least for a while making an effort to be more like the ant.

I've been wondering if a lot of school districts will decide to start the 2020-2021 school year much earlier to help the kids catch up.

I doubt it. Since I was a high school teacher before I have quite a few teacher friends. Here, schools are being run online so, in their minds, school is running and no catch up is needed.

Saying that, people are social creatures. Nothing substitutes the structure of school and the benefits of kids being with their friends.


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[Big Matt]

I can see people driving more and flying less too. Timeshares will fair out the best in this because of their guaranteed cash flow (MF).


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100 percent agree with this. Driving is so much easier it the trip is a reasonable distance.

 

[elaine]

They'll be a divide between haves: professionals who could telework, had paid leave, or an essential job that kept going and those temp laid off or no longer having a job after business folded.

) people who may not be broke, may not be able to take vacation right away. Companies are going to need time to recover and get back to normal

small business owners (who made good money) who had to close are likely highly affected. some might have put savings into business to stay afloat or cut their salary/profits to pay employees. Airline employees have/will take a big hit. Rationale people will realize that travel is a luxury and not go this year. Even a basic trip with for family of 4 is likely $1.5-2K with hotel/food. Beach rental or WDW easily $2-4K.
A driving trip is appealing to many as a compromise to a "bigger" trip bc one can canx and not lose any travel expenses. Add a hotel easily canx on a few days notice and one can wait and see about finances and C19 safety until right before. I don't want airfare that gives me a voucher for later, as we might not use it and cash is king now.