US travelers keep summer plans despite rising prices
In the United States, most surveyed travelers did not change their summer plans, although the cost of airfare, hotel stays and fuel increased. According to CNBC Top News, 55% of US travelers kept their plans unchanged, while only 3% of respondents canceled their trips.
The survey by insurance company Squaremouth was conducted from June 4 to July 7 among more than 6,200 of its customers. Nearly half of respondents, or 47%, said they would reconsider their plans if travel costs rose by up to 25%. The study’s margin of error was 1.2 percentage points.
How tourists adjusted their spending
Some respondents chose closer or cheaper destinations or shortened the duration of their vacations. At the same time, travelers were more likely to adjust other budget categories rather than give up their trips.
In another Squaremouth survey, more than half of participants reported cutting spending in other categories. In particular, 19% of respondents reduced spending on shopping, while 13% cut restaurant spending. The study involved 2,023 people and had a margin of error of 2.2 percentage points.
More current news is available on the UA.News Telegram channel Telegram.
Financial therapist and Mind Money Balance founder Lindsey Bryan-Podvin noted that for many people, travel is not just a vacation but also an experience associated with a sense of closeness, adventure or restoration. Therefore, travel expenses may become a priority in budget planning.
Demand remains in the fall
About 13% of tourists also said they reduced savings or investments to finance their trips. Bryan-Podvin explained this choice through the phenomenon of temporal discounting — a tendency to prioritize current comfort over future benefit.
According to a Hertz survey, 46% of Americans plan to travel in the fall. The company surveyed 2,001 adult US residents in August; the margin of error was 2.2 percentage points. Fall is traditionally considered a more affordable period between peak travel seasons, but high demand and price pressure have reduced this advantage.
According to Expedia’s estimate, average prices for domestic flights to popular US destinations this fall are 2% higher than in summer, while accommodation is 20% more expensive. The Hopper app reported that cheaper offers can still be found for international destinations in the fall, but discounts are generally smaller than in previous years.
