The number of Americans choosing not to travel this summer due to high prices has jumped.
According to Deloitte's 2024 Summer Travel Survey, 48% of Americans plan to travel and stay in paid lodging this summer, a slight dip from last year. But high prices are leading more people to avoid trips altogether. Almost one-third (32%) of non-travelers are planning to stay home due to the current costs of travel, an increase of 8 percentage points from summer 2023.
The study found that the number of Americans planning to take leisure trips will fall slightly this summer, down 2 points from 2023, and Americans overall will take fewer vacations, 2.3 trips compared to 3.1 in 2023.
The biggest deterrent to travel is cost. The study found that the average daily rate (ADR) at hotels this summer and July domestic airfares were both likely to rise 3%. More low-income Americans are deterred by higher prices, the study found, with high-income Americans expected to make up a bigger share of the traveling public this summer, 44% versus 35% in 2023.
Those who are traveling will spend more. Each income group plans to spend 6% to 13% more than in 2023. Summer budgets are up 18%.