The travel credit program, known as COVID-19 Travel Credit, has helped millions of Americans and their families find relief from the virus and return to work, according to a new study from PricewaterhouseCoopers.
The study, published in the Journal of Travel Finance, found that travel credit accounts generated $11.4 billion in spending by consumers who purchased travel from the program in October.
That was up from $7.3 billion in October, but was down from $8.2 billion in September.
While the study found that the travel credit accounted for about 20 percent of the travel spending in the U.S., it’s far from a complete picture of how consumers spend their money, said Brian O’Malley, the study’s lead author and the director of the Travel Credit Center at Pricewaterhouses.
“We are seeing a very small number of people that are actually using it,” O’Lama said.
The biggest driver of spending was “tourism and tourism-related spending, which accounts for about 90 percent of spending,” O’tmalas research said.
Other big spending categories included groceries, clothing, personal care items, food and beverages, entertainment, and gifts.
The findings are “pretty consistent with what we’ve seen from other research,” OMalley said.
Travel credit cards were popular among those with lower incomes, the research found.
Those who are earning less than $60,000 per year spend about 40 percent of their travel credit cards on travel.
That’s about half of what they spend on credit cards.
Travelers who are in the top 5 percent of income earners spend about half the travel cards they use on travel, O’tomalas research found, and that is even higher than for lower-income people.
Travels are a great way to save money, but they also offer a lot of potential for abuse, O’allaas said.
“The fraud risk is high and it can really drive up your interest rate, which can really affect your ability to pay bills,” O’sas research says.
“If you are not careful, you can easily spend your travel credit card on a lot more than you can actually use it for,” O’dalas added.
Costco, a major retailer, recently expanded the travel program to help consumers with bills and credit card balances.
The company said the expansion has boosted the average value of travel credit to about $1,500, which is a 50 percent increase from the previous week.
CostCO spokesman David Schulman said the company is pleased to see that consumers are using travel credit and expects it to grow even further as it seeks to make travel safer.
The travel credit credit program is designed to help travelers stay connected to their loved ones during the pandemic.
It’s similar to travel credit programs used in many other countries, including Canada, Japan and other nations.
The program is capped at $250,000 in spending.
For now, it will only be available to travelers who are not enrolled in the National Health Benefit Program, which covers nearly 90 percent and is designed for people with low incomes.
Travelers can earn travel credit for a year and pay $250 each month to cover up to two weeks’ worth of medical expenses.
The Travel Credit Program is similar to what the U,N.
is doing with the World Food Program, Schulmans statement said.
The program has been expanded to cover people who are eligible for other U.N. humanitarian assistance programs.
Schulmans added that he is also working to expand the program to other categories, including food and beverage purchases, home appliances and furniture purchases.
Travel card issuers will have to update their payment plans to include travel credit, Schulsman said.