4 in 10 Americans Stay Put This Summer as Money Is Tight

With Covid-related travel restrictions nothing but a faint memory, travelers are ready to hit the beaches in masses this summer – that is if they can still afford it. With everyday purchases like food, gas and utilities having become much more expensive over the past two years, many families are forced to to reconsider their holiday plans, if not to scrap them altogether.

According to Deloitte's 2024 summer travel survey, money and high price are by far the biggest hurdles for American would-be travelers this summer. According to the survey, 42 percent of Americans do not plan to travel this summer season, i.e. between Memorial Day and the end of September, up from 37 percent last year. Among those without travel plans 39 percent said that they simply cannot afford it, while 32 percent said that travel is too expensive right now and 19 percent said they'd rather spend the money on something else. While money is a big concern this year, health no longer is. Only 7 percent of those planning to stay put said that health risks are among the reasons behind their decision, down from 43 percent in 2021 and 33 percent in 2022.

With money a big factor in people's travel plans this year, it's not surprising that fewer people from lower income households will go on holidays this summer. According to Deloitte, people from households with an income of $50,000 or less make up 19 percent of the traveling public this summer, down from 31 percent last year. Meanwhile the share of travelers with a household income of $100,000 or more has climbed from 35 to 44 percent, resulting in higher holiday budgets for the average traveler.