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Most consumers unlikely to spend more because of vaccine

The development and availability of a coronavirus vaccine could improve the outlook for the battered tourism industry but it is unlikely to convince consumers to spend more money in the short term, a survey showed on Tuesday.

The survey by research group Dynata asked more than 5,000 people in Germany, France, Britain, the United States and Australia how they would change their behaviour once a COVID-19 vaccine becomes widely available.

Most respondents said they were looking forward to visiting friends or relatives again (61%) and leaving the house more often (53%), the survey showed.

In Germany and Britain, nearly half of respondents said they were looking forward to going on vacation abroad again.

Overall, one in two respondent was looking forward to not having to wear a face mask anymore. But only 12% said they were looking forward to spending more money and to focus less on savings, according to the findings.

During the first wave of the coronavirus pandemic in spring, the saving rate in Germany, for example, doubled to 20% as many consumers had to stay at home and shops were forced to close.


Reference by: Investing.com

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