American Travelers Budget Thousands More to Afford Rising Costs of Trips — TripIt Blog

Will rising airfare prices and inflation keep American travelers grounded this summer? Or will travelers keep their eyes on the prize—for many, their bucket-list trips—no matter the cost? 

We asked more than 1,800 U.S.-based TripIt users about their upcoming travel plans, and while rising costs and COVID-19 concern them, more than 95% of survey respondents still plan to travel in the year ahead. And some are willing to spend (tens of) thousands more to do so. 

Nearly half of American travelers planning once-in-a-lifetime trips

According to our survey data, nearly two-thirds (64%) of respondents plan to travel as much—or more—in the next year versus before COVID-19. Just over a third (36%) plan to travel less. 

What do their travel plans entail? Our data shows two-thirds (66%) are planning to travel for a summer vacation; 64% plan to visit family or friends; 47% are planning a fall vacation; 45% are traveling for business; 31% are planning a winter vacation; 22% are planning a bleisure trip; 19% are planning to travel solo; and 14% are planning a camping trip. 

For almost half (41%) of American travelers, one of their trips in the year ahead will check the box on a bucket-list trip. One-third (33%) of respondents planning to travel solo said their trip would also be a bucket-list trip. In addition, 29% said their fall vacation (we see you, shoulder-season travelers!) would be a bucket-list trip; 27% said their summer vacation would be one. 

So, what about the cost of those trips? Of those planning a bucket-list trip, the majority (62%) said their bucket-list trips will be more expensive than a normal trip—for most (47%) in the range of $1,000 to $5,000 more. 

Travelers to cut back on dining to free up budget for trips

Do all upcoming trips (bucket-list or otherwise) mean spending more money? For nearly a third (32%) of respondents, the answer is yes. Our data shows more than a quarter (26%) of those who will be spending more will spend an additional $3,000 to $5,000 on travel this year. Ten percent said they’d spend more than $10,000 extra.

Americans spending more money than usual on travel attributed it to:

• Rising airfare prices (51%)
• Overall inflation (49%)
• Rising gas prices (34%)
• Planning more extravagant trips (34%)

For many, planning a trip means prioritizing their income accordingly. Almost a third (29%) of respondents have adjusted or plan to adjust their overall spending to…