Travel Industry Trends: Vacation Spending Statistics (2018-2023)
Every spring Generali partners with Ipsos to survey travel sentiment and plans for the upcoming summer travel season around the globe. Look below for historical data showing how summer travel spending in the U.S. has changed over the years, from before the pandemic to present day.
Feel free to use these travel statistics however you wish, but please credit us by linking back to this page.
U.S. summer travel budgets are up +27% compared to spending before the COVID pandemic
See the latest survey: 2023 - Americans Keep Travel Options Open This Summer
The Most Common Reason Not to Travel Is Cost
The costs in several areas of travel have gone up within the past couple of years, so it’s no surprise that people of all ages are stating that money — specifically the lack of it — is the primary reason people choose not to take vacations.
The second most popular reason was a desire to save money, which is less indicative of affordability and more so an uncertainty about the economic times ahead. Either way, respondents agreed that their budget would play “an essential role” in their travels vs. an important (but not essential) or secondary role. While these numbers were more overwhelming in lower age bracket categories (below 35), the conclusion was still true for respondents in the over 55 bracket.
Travelers Are Looking for Special Deals to Offset Budget Increases
When respondents were asked if they would adjust their budget for inflation in categories related to their vacation standards (i.e. hotel quality, transportation options, destination choices), fewer people were willing to compromise in these areas. Many respondents would rather find a way to get a good deal on their preferred standards of travel, such as the cost of accommodations, rather than lower their expectations.
If they have the time and financial ability to travel, they’re more committed to finding discounts to make their dream vacation more affordable.
Let’s be honest — we all love a good deal and discount, and travel expenses are no exception.
