{"id":319,"date":"2020-08-14T22:36:12","date_gmt":"2020-08-14T22:36:12","guid":{"rendered":"https:\/\/market-wisdom.com\/?p=319"},"modified":"2020-09-25T23:19:13","modified_gmt":"2020-09-25T23:19:13","slug":"americans-spend-to-get-out-covid-cruising","status":"publish","type":"post","link":"https:\/\/market-wisdom.com\/index.php\/2020\/08\/14\/americans-spend-to-get-out-covid-cruising\/","title":{"rendered":"COVID drives American recreation?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Background<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Americans have a love affair with travel, and with their cars.\u00a0\u00a0As COVID lockdowns started in March, we changed to sitting at home.\u00a0\u00a0But as anyone who has been on the road recently knows, traffic is picking up.\u00a0\u00a0If many of us are still working from home, where is this traffic coming from?\u00a0\u00a0Are we seeing that COVID drives Americans outdoors?  This post examines how we have moved outdoors, COVID be damned.\u00a0\u00a0Or, at least, finding ways to get outdoors separated from other people.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Findings<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide1.png?resize=756%2C539&#038;ssl=1\" alt=\"\" class=\"wp-image-321\" width=\"756\" height=\"539\" srcset=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide1.png?resize=1024%2C731&amp;ssl=1 1024w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide1.png?resize=300%2C214&amp;ssl=1 300w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide1.png?resize=768%2C548&amp;ssl=1 768w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide1.png?w=1200&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 61vw, (max-width: 1362px) 45vw, 600px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Spending on outdoor stuff jumped:&nbsp;&nbsp;&nbsp;<\/strong>Cars, recreational vehicles, and sporting goods spending are all above pre-pandemic levels.<\/li><li><strong>Traffic is up:&nbsp;&nbsp;<\/strong>You already knew this!&nbsp;&nbsp;One example (below) \u2013 Golden Gate bridge traffic has rebounded even though downtown San Francisco is still a ghost town.<\/li><li><strong>Parks are popular:&nbsp;&nbsp;&nbsp;<\/strong>Visits to national parks are rebounding strongly toward pre-pandemic levels.&nbsp;&nbsp;See the Yellowstone chart example below.&nbsp;&nbsp;<\/li><li><strong>Motorhomes are renting like hotcakes:&nbsp;&nbsp;<\/strong>RVShare, the largest P2P motorhome rental\/sharing service,&nbsp;<a href=\"https:\/\/rvshare.cdn.prismic.io\/rvshare\/0193d447-f946-499c-a128-130acec4013a_Press+Release_RV+Rentals+Surge+Into+Fall+_Final.pdf\">reports 50% more volume<\/a>&nbsp;of rentals this Labor Day vs. year ago.&nbsp;&nbsp;Most motorhome rental agencies are reporting dramatic jumps in rentals.<\/li><li><strong>So are vacation home rentals:&nbsp;<\/strong>&nbsp;<a href=\"https:\/\/www.cnbc.com\/2020\/06\/16\/airbnb-poised-for-comeback-after-brutal-covid-19-spring.html\">AirBnB reported<\/a>&nbsp;in June that it was actually seeing higher rental volume than a year ago as people are desperate to get away from their city living.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide3.png?resize=750%2C535&#038;ssl=1\" alt=\"\" class=\"wp-image-323\" width=\"750\" height=\"535\" srcset=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide3.png?resize=1024%2C731&amp;ssl=1 1024w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide3.png?resize=300%2C214&amp;ssl=1 300w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide3.png?resize=768%2C548&amp;ssl=1 768w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide3.png?w=1200&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 61vw, (max-width: 1362px) 45vw, 600px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide2.png?resize=758%2C540&#038;ssl=1\" alt=\"\" class=\"wp-image-322\" width=\"758\" height=\"540\" srcset=\"https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide2.png?resize=1024%2C731&amp;ssl=1 1024w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide2.png?resize=300%2C214&amp;ssl=1 300w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide2.png?resize=768%2C548&amp;ssl=1 768w, https:\/\/i0.wp.com\/market-wisdom.com\/wp-content\/uploads\/2020\/08\/Slide2.png?w=1200&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 61vw, (max-width: 1362px) 45vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Implications<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If Americans won\u2019t stay home, what does it mean?&nbsp;&nbsp;Certainly increased spread of COVID is a risk.&nbsp;&nbsp;Those providing products and services to travelers need to make them and market them as hygienic.&nbsp;&nbsp;We\u2019re seeing AirBnB and motorhome rentals advertising empty time between renters, and complete sanitization wipe downs.&nbsp;&nbsp;&nbsp;For those Americans who worry about the virus but \u201cneed\u201d to get out, they will seek cleanliness.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From the financial services perspective, this is an early indication that the rise in the personal savings rate may be a chimera.&nbsp;&nbsp;Recessions usually depress car sales\u2026but not this time?&nbsp;&nbsp;Clients may need counsel to not go crazy spending to get out of their COVID grumpiness.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em><a href=\"https:\/\/market-wisdom.com\/index.php\/sign-up-for-cool-weekly-insights\/\">Sign up for the weekly insights email!<\/a><\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The small print<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The spending data comes from the&nbsp;<a href=\"https:\/\/apps.bea.gov\/iTable\/iTable.cfm?ReqID=19&amp;step=2#reqid=19&amp;step=2&amp;isuri=1&amp;1921=underlying\">BEA<\/a>.&nbsp;&nbsp;The jumps in spending are not only above pre-pandemic levels, they\u2019re also above last year\u2019s June spend levels.&nbsp;&nbsp;This means that it\u2019s not just a seasonal effect.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Background Americans have a love affair with travel, and with their cars.\u00a0\u00a0As COVID lockdowns started in March, we changed to sitting at home.\u00a0\u00a0But as anyone who has been on the road recently knows, traffic is picking up.\u00a0\u00a0If many of us are still working from home, where is this traffic coming from?\u00a0\u00a0Are we seeing that COVID &hellip; <a href=\"https:\/\/market-wisdom.com\/index.php\/2020\/08\/14\/americans-spend-to-get-out-covid-cruising\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;COVID drives American recreation?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,1],"tags":[],"class_list":["post-319","post","type-post","status-publish","format-standard","hentry","category-covid-financial-behavior","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COVID drives American recreation?<\/title>\n<meta name=\"description\" content=\"Americans are spending more than ever on cars, sporting goods, and RVs despite the COVID crisis. 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