Summary:
- Although there appears to be a rebound in summer travel for US residents in 2018, travel budgets are declining, and some Americans are skipping holidays altogether due to a lack of affordability, two studies show;
- A new report from Generali Global Assistance's Travel Insurance division shows 68% of Americans plan to take a summer vacation, up from 61% in 2016;
- In a separate study, Bankrate.com determined nearly one in four Americans have no summer vacation plans in 2018, largely due to budget constraints.
- Across the globe, Americans are tied with Brazilians as the most likely to travel this summer at 68%, Generali concluded, ahead of the Chinese (67%) an Europeans (64%).
- A new study conducted by Generali Global Assistance's Travel Insurance division shows 68% of Americans plan to take a summer vacation, up from 61% in 2016.
"After a significant dip in 2016, summer travel has rebounded over the past two years," the company concluded.
Budgets for US travellers are declining modestly in 2018, Generali stated. The planned USD2,643 spend is one percentage point lower than the year prior. In a separate study, Bankrate.com determined nearly one in four Americans have no summer vacation plans in 2018, largely due to budget constraints.
Not surprisingly, Millennials are most likely to point to funds as a hurdle to taking time off as well as concluding they are too busy at work for a vacation.
For those Americans fortunate enough to take a vacation, the top foreign destinations are Canada followed by Mexico, according to Generali. The Bahamas, Italy an France were locked into a three-way tie for third place. However, with budgets remaining relatively flat, 46% of vacationers plans to stay within the US this year.
Beaches top the list as the preferred destination for those traveller with the majority spending time with family and friends (48%), followed by discovering different cultures/getting a complete change of scenery (45%) and relaxing (39%).
Hotels remain the most used form of accommodation this summer at 55%, down slightly from last year (57%). But new forms of lodging are on the rise, especially with Millennials. The findings show 59% said they would rent an individual's private house/apartment (versus 38% of the general population); 37% said they would rent a room in a private house (versus 20%); and 29% said they would engage in a free home exchange (versus 16%).
Genrali's research also shows Americans are more likely to stay connected to social media on vacation, with only 40% stating they plan to scale back their usage on vacation; that compares to 56% of Europeans who plan to unplug from social media. Chinese travellers are the least likely to pare down their social media engagement, with only 31% indicating they plan to use sites such as Facebook and Twitter while vacationing.
Americans are tied with Brazilians as the most likely to travel this summer at 68%, Generali concluded, ahead of the Chinese (67%) an Europeans (64%).