40% of Americans Plan to Travel More in 2024 vs. 2023
The article highlights:
When asked how much they’ll travel in 2024, 52% of consumers said they plan to travel the same amount as they did in 2023. Another 40% of respondents expect to travel even more.
Americans took an average of 2.1 trips in 2023, with 36% of respondents traveling three or more times for leisure reasons.
92% of travelers expect to travel at least as much in 2024 as they did in the prior year. While a sizable 40% of respondents plan to travel more this year, that figure is down 9 percentage points compared to our 2023 survey findings.
The most popular types of leisure travel expected in 2024 include:
visiting family and friends (46%),
beach vacations (36%),
and road trips (34%).
Budgets will be higher than last year for 39% of respondents and another 35% will budget the same amount for travel as they previously did, in spite of inflation in other household expenses placing pressure on discretionary spending. When asked the same question last year, 45% of survey participants said their budgets would be higher.
Overall, 72% of survey respondents plan to spend upwards of $2,000 on travel in 2024 and nearly half (48%) will spend a minimum of $4,000 throughout the year.
Nearly half of surveyed travelers (46%) are somewhat or very likely to adjust their travel plans in one way or another due to inflation. Of these respondents, 19% expect to take fewer trips while 14% will shorten the duration of one or more of their intended trips.
Other potential savings will come from driving instead of flying (18%), traveling during the off-season (14%), traveling to a cheaper destination (14%) or staying at less luxurious accommodations (12%).
