Will The Economy Ground Your Summer Travel?

More than half (51%) of us are planning a vacation this summer. Even more if we’re among the affluent and young professionals. According to the latest American Express Spending & Saving Tracker,  we plan to spend an average of $1,000 per person on summer travel.

Parents, are planning  to arrange summer activities for their children and plan to spend an average of $600 per child. This month’s American Express Spending & Saving Tracker  sample of 2,000 adults included the general U.S. population, and two subgroups — the affluent and young professionals.

“The summer vacation, and particularly, the family vacation is alive and well this year,” said Audrey Hendley, vice president of American Express Travel.

Vacations with Family and Friends

Family trips will be most popular (52%), a variety of other vacation types are being planned, including:

Couples trips (26%)

Trips with friends such as “girlfriend getaways” and “mancations” (10%)

A “staycation”–intending to enjoy time off and attractions near home (11%)

Experiential or adventure vacations such as a culinary retreat or hiking trip (7%)

Educational vacations (4%)

Of those taking a summer vacation, most  will stay within the U.S., with destinations in the South (31%) and Northeast (29%) being the most popular vacation destinations. A smaller percentage of consumers (16%) plan to travel outside of the U.S., primarily to the Caribbean (6%), Canada (5%), and Europe (4%). Affluents (19%) are more likely to venture outside of the U.S. and young professionals (29%) are twice as likely as the general population to do so.

People without summer vacation plans this year cited several factors. Among those people:

44 percent said they had not saved for a vacation

23 percent reported they plan to spend the money on something else like home improvements or local activities. Included in these,

18 percent plan to spend on family necessities.

8 percent said they don’t have the time to either plan or take a vacation this year

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