Gays keep on truckin

According to survey research released by Harris Interactive in late 2008, a majority (55%) of all U.S. adults believe that they will be adversely affected by the current economic downturn. However, as many Americans react to the economic forecast by reprioritizing costs and altering spending habits, the study also suggests that U.S. gay, lesbian, bisexual and transgender (GLBT) consumers appear to cut back less in their personal travel budgets than heterosexuals – a trend that underscores the importance for tourism industry professionals to build strong connections with this characteristically brand loyal market.

Today, it is estimated that – with approximately 16 million American adults self identifying as part of this still-emerging segment – the U.S. GLBT market wields over $712 billion in aggregate buying power (2008 projection). However, because three out of four GLBT Americans live in households without children under the age of 18, consumers in this segment typically have more discretionary income to spend than the average U.S. household.

In a national online survey conducted in May 2008, Harris Interactive found that – despite sluggish economic conditions – 38% of U.S. gay and lesbian adults planned to vacation as planned, compared with 34% of heterosexuals. Additionally, one quarter (25%) of GLBT respondents indicated that they were either “absolutely certain” or “very likely” to vacation by air, while only 19% of heterosexuals indicated that they would do the same.

“These findings help confirm what market research has been telling us for several years now: America’s GLBT market represents a resilient and distinct growth opportunity for tourism professionals,” said Bob Witeck, founder and CEO of Witeck-Combs Communications, a Washington, D.C.-based marketing consulting firm that partners with Harris Interactive to profile America’s GLBT households. “Different market segments respond to fluctuations in the economy in different ways. Though U.S. GLBT consumers are in no way exempt from the downturn, several factors – such as higher than average per capita buying power – are keeping them on the road and in the air for vacation.”

Tweet