The average American sets their vacation budget limit at $2,743, a new survey reveals.
Interestingly, 16% 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 (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, found the majority of respondents (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%).
In a new survey of 2,000 Americans, respondents reported an average vacation budget of $2,743 annually.
One of the main concerns among respondents while planning trips is finding affordable accommodations (35%). Getty Images
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.
On average, those polled 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% compare prices on websites, and 36% of people look for package deals like multi-attraction passes, which offer a discount when visiting various attractions in the same area.
3 in 10 Americans plan their trips in advance to take advantage of discounts on travel and activity expenses.
According to the survey, 55% of respondents prefer domestic travel within the U.S. Getty Images
The survey also suggests that Americans currently prefer domestic travel, with 55% 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,” Jon Owen, CEO of Go City, said. “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% of people agree that vacations are the perfect opportunity for it.
Survey reveals how much money most Americans spend on vacation
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