Summer will be here soon and for many folks, that means vacation time. A new survey of U.S. adults from Bankrate finds that more people are going on vacation this year, 63% compared to 61% in 2022. But they may not be taking the trip they originally planned, as 80% of vacationers say they’re changing their plans because of inflation.
- Affordability is getting in the way of many people’s getaways, as 58% of those who aren’t taking a vacation say it’s because they can’t afford it. That’s up from 48% who couldn’t afford it in 2022.
- Americans who are taking at least one trip this year say they’ll save using strategies like traveling for fewer days (26%), going to a closer location (23%), and driving instead of flying (26%).
- Younger Americans are more likely to be planning a summer vacation this year, including 76% of Gen Z and 70% of millennials, compared to 62% of Gen X and 54% of baby boomers.
- The beach is the most popular summer vacay destination, with 39% of vacationers planning to go to the beach this summer. Other popular destinations include a city (28%), a national park (23%), campground (19%) or an amusement park (19%).
- And about a quarter of respondents are skipping travel altogether and opting to take a staycation instead.