- About 59 percent of Americans plan to travel this summer.
- 47 percent scaled back or canceled plans due to costs.
- 46 percent cite gas prices as the main reason for travel cuts.
High costs are driving the pullback, with 47 percent of Americans citing them as the main reason for scaling back travel. About 46 percent pointed to gas prices, which also raise the cost of other vacation-related goods and services.
A significant portion of Americans are choosing shorter trips and more local destinations rather than canceling entirely. Around 21 percent of Americans are taking shorter or cheaper trips than originally planned, while 20 percent are opting for day trips or local outings. Another 14 percent plan to stay home altogether.
"Americans aren't giving up on summer. They're giving up on the idea that a memorable vacation has to involve flights, hotels, or a hefty price tag,” said Marty Bauer, Omnisend Ecommerce expert. “A vacation budget no longer exists in isolation – it's competing with higher fuel costs, grocery bills and other everyday expenses that have become harder to ignore.”
For those not traveling, the money is not sitting idle. Around 40 to 47 percent said they would spend those funds on groceries or daily essentials, 20 to 28 percent on rent or mortgage, and 23 percent on paying down debt.
Even as they stay home, many Americans are still treating themselves. About 58 percent of those who canceled travel plans are likely to spend on small luxuries like clothing, dining, food delivery, local experiences and premium groceries.
Another report from RateGain Travel Technologies shows that global summer travel demand remains strong, but rising airfares, economic uncertainty and shifting traveler preferences are influencing booking patterns.
