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Internet Travel Monitor - Marketing & Research
March 19, 2008
Rebate Checks Will Cover Basic Expenses, Many Americans Say
Gas and Groceries Top List of Anticipated Spending, Access America Survey Finds
RICHMOND, VA – In anticipation of federal rebate checks intended to stimulate an uncertain economy, most Americans (57%) say they will spend the money on such basic necessities as groceries and gas as well as more discretionary purchases like travel and electronics.
In a survey commissioned by Access America, more than one quarter (28%) of respondents said they have earmarked the rebate -- $600 for individuals and $1,200 for couples filing jointly - to pay down debt, with another 15 percent indicating they will invest the funds in long-term savings.
"These results reflect the schizophrenic nature of the economy, with many Americans needing the cash for day-to-day needs while others viewing the infusion as a windfall that they can use to treat themselves," said Mark Cipolletti, vice president for Access America. "Irrespective of how they spend it, the survey suggests that more than half of the $105 billion stimulus will likely be directed back into the economy."
Of the 57 percent of respondents who plan to spend their federal rebate, about a quarter (24%) will use it for every-day expenses such as groceries and gas. Another 15 percent intend to save the rebate in the short-term, but spend it within the year. Both travel (9%) and purchasing big-ticket items such as a car or electronics (9%) account for the remainder of the anticipated spending.
"When you consider that almost one in 10 Americans plan to use their rebate to take a trip, the news is particularly encouraging for the travel industry," added Cipolletti. "That figure represents billions of dollars that will be spent on airfare, cruises, hotels, travel agents and other vacation-related expenses."
Survey results included some notable differences among various demographic groups. Among households with incomes of $50,000 or more, 26 percent plan to use the money to pay down debt, while 20 percent plan to save. Of those making less than $25,000, 41 percent plan to use the money for everyday needs like groceries and gas with just eight percent planning to save it.
The survey, commissioned by Access America, a leading travel insurance and assistance provider, was conducted by Ipsos Public Affairs, an independent research company, from March 3-6, 2008. Using telephonic interviews, 695 respondents were asked to choose from among seven options for how they planned to use their stimulus money.
Copyright 2008 World Access Service Corp. All rights
reserved. From http://www.accessamerica.com.
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