Have you heard? There is a massive travel budget, or money that people set aside each year for vacations, in North America.
According to American Express, well over half of Americans have a travel budget (and we all know that percentage is probably much higher among the guests at a typical charity fundraiser). In fact, a whopping $600 billion is spent on leisure travel each year!
For many nonprofits, offering travel in the auction opens the door to a whole new revenue stream—travel budgets completely separate from a donor's 'philanthropic' budget.
We could certainly use access to more revenue streams, but I don't think our audience really has the money to buy trips.
Valid point. But if you've never offered travel at your fundraising event before, you may be underestimating the giving power and travel budgets of your audience.
Surveys show 83% of winning bidders budget $5,000 annually for travel. What's more, 53% budget at least $10,000 per year for vacations.
What this means for your nonprofit: An overwhelming majority of your audience has set aside money to spend on a vacation package that they'll spend one way or another... whether through your fundraising event or with a travel agent.
Okay, some people in our audience are probably buying at least one trip this year. How do we know where they want to go?
While some cities and attractions maintain popularity year after year (think Hawaii and NYC), there are new, up-and-coming destinations and activities poised to become big winners at fundraising auctions this fall.
Check out our infographic highlighting the biggest travel trends of 2016 (spa day, anyone?), then learn how to quickly and easily reserve Winspire Experiences that cater to any niche traveler.