Travel may be a luxury for a large percentage of Americans, but clearly it’s a category that many are eager to splurge on.
A new survey found that 65% of Americans feel travel is a luxury in 2024.
Of the nearly 2 in 5 traveling less in 2024, 88% blame the cost of living:
- 1 in 3 are postponing a trip for at least 6 months due to the expense of travel
- 17% are taking a vacation even though they can’t afford it
- 15% are taking on debt in order to go on vacation
Though there are financial risks, Americans are willing to spend big on their trips: 1 in 3 say they value travel experiences over financial stability, and nearly half of those planning a vacation will be splurging during travel.
