New York – February 24, 2021 — As many business owners eagerly await the so-called economic reopening, nearly 1-in-4 (24%) adults in the U.S. say that even if they get the vaccination they still won’t feel comfortable venturing out in public, visiting businesses such as retailers, restaurants, grocery stores, and malls. An even larger group (30%) say they’re unlikely to get the vaccine at all, according to a new national survey of 2,305 U.S. adults conducted by YouGov on behalf of Bankrate.
“The path toward a stronger economy depends on full resumption of consumer spending associated with a successful vaccination effort,” says Mark Hamrick, Senior Economic Analyst for Bankrate. “The nation’s economy may face lingering challenges with some Americans reticent about getting COVID-19 vaccines or venturing back out in public.”
Likelihood to get the vaccine: Despite the deadly toll of COVID-19, some 70% of adults indicate they’re (very or somewhat) likely to get vaccinated, compared to 30% who say they are not.
|Vaccination Interest by Demographic|
|Likely to Get the Vaccine (somewhat + very)||Not Likely to Get the Vaccine (not too + not at all)|
|Income under $50,000/year||65%||35%|
|No H.S., High school graduate||61%||39%|
|4-Year degree and higher||84%||16%|
|Silent generation (76+)||86%||14%|
|Generation Z (18-24)||65%||35%|
Perceived impact on U.S. economy from COVID-19 vaccines: A solid majority of Americans (58%) believe the COVID-19 vaccine will have a “major” or “minor” positive impact on the U.S. economy by the end of the year. 14% expect the vaccine will have a negative impact, either major or minor. Another 15% said they didn’t know.
|Perceived Impact by Demographic Group|
|Positive Impact on Economy (major/minor)||Negative Impact on Economy (major/minor)|
|Income under $50,000/year||55%||13%|
|Income $80,000/year +||66%||15%|
|No H.S., High school graduate||48%||14%|
|4-Year degree and higher||72%||11%|
|Silent generation (76+)||69%||21%|
|Generation Z (18-24)||53%||10%|
*Responses will not add up to 100% because some respondents selected “I don’t know”
The vaccine and comfort level going out in public: 76% of U.S. adults say they’d be very or somewhat comfortable going out in public to visit businesses such as retailers, restaurants, grocery stores and malls after receiving the COVID-19 vaccine. Without receiving the COVID-19 vaccine, only 51% of all U.S. adults feel comfortable.
|Comfort Level Visiting Businesses Once Vaccinated by Demographic|
|Comfortable Visiting Businesses (very/somewhat)||Uncomfortable Visiting Businesses (very/somewhat)|
|Income under $50,000/year||72%||28%|
|Income $80,000/year +||83%||17%|
|No H.S., High school graduate||72%||28%|
|4-Year degree and higher||80%||20%|
|Silent generation (76+)||76%||24%|
|Generation Z (18-24)||70%||30%|
|“I am likely to get the COVID-19 vaccine”||82%||18%|
|“I likely will not get the COVID-19 vaccine”||61%||39%|
Hamrick offers the following advice regarding personal finances for all Americans: “For the vast majority of Americans eager for activities once taken for granted before the pandemic such as shopping, dining out or going on vacation, it will be key to avoid overspending while mindful of short and long-term financial goals. It is just a question of having a budget and balancing these activities to protect the health of personal finances.”
Methodology: Bankrate.com commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,305 adults. Fieldwork was undertaken February 4-5, 2021. The survey was carried out online and meets rigorous quality standards. It employed a non-probability-based sample using both quotas upfront during collection and then a weighting scheme on the back end designed and proven to provide nationally representative results.