We're Planning to Spend More On Vacations This Year

After a year or more of not being able to travel all that much, America is ready for a getaway, and they’re willing to open up their wallets to get there. A new Quicken survey finds:

  • 75% of Americans plan to go on at least one vacation this year, while 50% plan to go on more than one trip.
  • 43% say thy plan to spend more money on vacations this year than they have in previous years.
  • Only 21% of men and 33% of women plan to spend less than $1,000 on vacation this year. 

For those planning to spend more on vacations this year, their reasons include:

  • It was in response to their experiences with COVID-19 (75%)
  • Because they weren't able to go on vacation in 2020 (42%)
  • Because they saved extra spending money during the pandemic (36%)
  • Because they are feeling the impact of inflation on the costs of travel as the economy recovers (25%) 

As for what type of vacations people plan to go on

  • 24% want to go on a relaxing beach or self-care type of trip.
  • A quarter are traveling to see family or friends,
  • 6% are planning a city or cultural vacation. 

Source:Yahoo Finance

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