Americans Keep Summer Travel Near $2,900 as 71% Plan to Spend Same or More

3 articles · Updated · CNBC · Aug 13

$2,900 is the average Americans planned to spend on summer travel, with 71% expecting to spend the same or more than last year despite airfare jumping 26% and gas staying above $4 a gallon.
45% of travelers plan shorter trips, 44% will eat out less and 42% will stay closer to home, showing how households are preserving vacations by cutting other spending.
Bank of America data showed middle-income households still raised airline spending 8% in the second quarter while grocery spending growth was flat, suggesting travel is being funded by trade-offs in everyday purchases.
84% of summer travelers expect to use credit cards, and 23% of those charging trips do not plan to pay them off right away, adding debt risk to that resilience.
Analysts say travel demand is increasingly K-shaped, with higher earners buoying headline spending while many others treat vacations as a near-necessity tied to status, wellbeing and a still-growing economy.