NEW YORK — How much are you willing to spend when it comes to going on vacation? When planning a getaway, the average American sets their vacation budget limit at $2,743. Interestingly, 16 percent of those polled won’t even spend over $1,000 on a vacation, according to a survey of 2,000 Americans who travel.
Whatever the budget, American travelers are determined to go on some sort of vacation this year. Almost half of American travelers (48%) would rather take on additional work this year than not be able to afford one.
The survey, conducted by OnePoll on behalf of Go City, finds the majority of Americans (53%) prioritize saving up for travel over things like hobbies (29%), retirement savings (24%) and home improvements (24%). While people do want to travel, expenses can be daunting. Travelers grapple with how they can balance travel expenses with other financial priorities (37%). They also worry about finding affordable accommodations (35%), and the affordability of attractions and activities (32%).
As people save up for a vacation, they invest nearly four hours in research for wallet-friendly options.
How Americans plan their vacations
Americans on average seek three getaways per year. Many (58%) are willing to downsize in the number of days and believe even a simple one-night stay is enough of a break. Moreover, three in 10 plan their vacations in advance, allowing them to take advantage of early bird discounts and enticing package deals.
When searching for the best travel deals, people use some hacks and strategies. For example, 48 percent compare prices on websites, and 36 percent of people look for package deals like multi-attraction passes, which offer a discount when visiting various attractions in the same area.
The survey also found that Americans are currently preferring domestic travel, with 55 percent of the respondents only traveling within the U.S.
“There are so many different ways to travel, but the most important thing for people is to maximize their time away, no matter what that looks like for them,” says CEO of Go City, Jon Owen, in a statement. “Whether it’s recharging in nature, leisurely exploring, or seizing the day in a major city.”
Vacations seem to hold a special place in people’s hearts, as they believe it contributes to their overall well-being. Five in 10 believe that vacations provide quality time with loved ones and help strengthen relationships.
And, respondents believe it’s a chance to build lifelong memories and meaningful experiences—48 percent of people agree that vacations are the perfect opportunity for it.
“We know that price is a top concern for today’s travelers,” adds Owen. “They are prioritizing taking trips, but also searching for the best deals. There are so many options to see and save…No matter how you like to travel, the important thing is getting out there and experiencing something new.”
Survey methodology:
This random double-opt-in survey of 2,000 Americans who travel was commissioned by Go City between June 9 and June 15, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).