Inflation is putting a damper on summer travel

Costs are up, for travel expenses and otherwise, and some Americans say they won’t take a vacation in summer 2023 due to inflation

Apr 19, 2023

A new NerdWallet survey finds that more than 2 in 5 Americans (42%) plan to take a vacation that requires a flight and/or hotel stay in summer 2023, and most are taking steps to keep costs down after a year of significant price increases.

Key takeaways

  • Most 2023 summer travelers (92%) are taking action to save money on those travel expenses, such as choosing a hotel/motel/resort based on price instead of amenities (39%) or driving instead of flying (35%);
  • More than a quarter are using a credit card to pay for those travel expenses (26%) and say they won’t pay off the balance within the first billing statement, meaning they will likely incur interest;
  • Of Americans who don’t plan to take a vacation that requires a flight/hotel this summer, the most common reason they cite for not doing so is inflation has made travel too expensive (23%).

Get the full story at NerdWallet

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