TREE - More than 50% of Americans Have Summer Travel Plans and Expect to Spend $2400 or More According to a Survey by ValuePenguin.com

Another 40% of Americans say they'll be flying to their vacation destination

PR Newswire

NEW YORK , May 25, 2021 /PRNewswire/ -- Looks like summer travel is back and in full swing for many Americans. More than half of Americans booked travel plans and another half said they'll most likely go into debt for summer vacations. Although some are still weary about certain types of travel (just a little iffy on cruises), almost 40% of Americans will be flying to their vacation destinations.

ValuePenguin polled over 2,000 Americans to get an idea of what they'll be doing this summer and how they plan to navigate travel under new circumstances.

Key findings:

• Summer vacations are back. This year, 53% say they'll definitely take at least one trip, and an additional 32% are considering it. Only 15% say they won't travel at all, compared to 72% who said in a previous survey that they didn't travel last summer.
• Travelers are ready to spend. Consumers plan to spend around $2,400 on summer travel, taking an average of three trips.
• Cost constraints are more likely to deter travelers than coronavirus worries. Of those who won't take a summer vacation, 43% cite a lack of affordability as the main reason, while 41% blame the pandemic.
• Nearly half of travelers may add debt from summer travel. This includes 27% who definitely expect to incur debt and another 20% who might. Millennials and parents of younger children are more likely than other respondents to incur summer travel debt.
• Road trips remain popular, while the percentage planning to fly more than tripled from last year. Last summer, just 13% flew, compared to 40% who plan to fly this year.
• Consumers are still iffy on some types of travel. Cruises are still a no-go for 47% of respondents, while 44% aren't up for international travel and 29% are hesitant to fly.

View full report: Summer Travel

About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com , like our Facebook page, or follow us on Twitter @ValuePenguin.

Media Contact:
Nadia Gonzalez (Mrs.)
Nadia@LendingTreeNews.com

SOURCE ValuePenguin.com