More Than One-Third of Americans Are Skipping a Summer Vacation This Year — Should You?
Written by
Vance Cariaga
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Many Americans are putting the brakes on summer vacation this year amid a mix of troubling financial news, ranging from recession fears and stock market volatility to rising consumer prices.
More than one-third (38.6%) of Americans surveyed by finance app MoneyLion say they’re not taking a vacation at all this summer. Similar results were unveiled in a recent survey from Deloitte, which found that 43% of travelers are not traveling this summer — up slightly from 42% in 2024. Find out below what’s driving this decision and whether you should skip a summer vacation, as well.
Also, if you do decide to travel, here are some ways to make summer travel more affordable.
‘Essentials Are In’
Financial concerns are driving the decision to skip summer vacation this year. According to MoneyLion, “essentials and experiences are in — lavish trips and impulse buys, not so much.”
Below are some of the survey findings in terms of what Americans are spending money on when they do open their wallets.
- Bills and basics: 40.2% of respondents
- Travel and getaways: 28.2% of respondents
- Food and BBQs: 21.2% of respondents
When it comes to which expenses Americans plan to cut back on, below were the two leading areas.
- Shopping: 30.8% of respondents
- General spending: 27.6% of respondents
Should You Skip Summer Vacation?
Deciding whether you should skip summer vacation this year depends on a variety of factors, including your financial situation, job status and family size. But no matter your personal situation, you’re probably seeing a rise in prices across several different categories.
Overall inflation in April rose 0.2% from the previous month and 2.3% from the previous year, according to data from the U.S. Bureau of Labor Statistics. Food prices across all categories climbed 2.8% year-over-year, while shelter prices increased 4%.
There is some good news for travelers, however — including lower gasoline prices. The average national price for gas was $3.174 a gallon as of May 27, according to AAA. That was slightly higher than a month earlier but well down from $3.591 the prior year.
Prices in other travel categories have declined as well, according to the U.S. Travel Association. It found that average airline fares in April fell 7.9% from the previous year, while average hotel or motel prices decreased 2.4%.
More From GOBankingRates
