It’s been a challenging few years on the road to the “new normal,” and while many vacationers plan to take a downtime detour this summer, concerns about Covid, vacation costs and family finances aren’t yet in the rear-view mirror yet. According to a new Forbes Advisor survey, more than half of summer vacationers have had their summer travel plans impacted for a variety of reasons.
Key Findings:
- Costs and Covid impact summer vacation plans.
- 54% of summer vacationers we surveyed said the cost of vacation is affecting their summer travel plans.
- 50% report that concerns about Covid and their finances were taking into account when planning vacations.
- 41% said safety in other countries and available time off work impacted their summer travel plans.
- Summer vacation cost cutting for some, splurging for others.
- Americans planning to take a summer vacation this year said they reduced their original travel budgets by an average of $1,636.
- Going to a less expensive destination (45%) is the most popular tactic for trimming costs, followed by taking fewer trips (37%) and traveling shorter distances (35%).
- Only 12% of summer vacationers would call their trips “expensive,” while 41% say their vacation price tag is “middle-of-the-road” and 30% classify their trip as “cheap/budget.”
- 42% say they’ll spend more on a summer trip this year than last year, with 28% spending less.
- Summer vacation trip costs.
- Among vacationers buying travel insurance, the average summer trip cost within the U.S. is close to $7,000, with international trips averaging more than $7,600.
Top summer vacation destinations.
79% of travel insurance purchases for trips from June 1, 2022 through Labor Day are for international trips. Italy is the top international destination for summer travel this year, skyrocketing from #10 in 2021.