Fewer Than Half of Americans Plan to Travel This Summer; Cost is a Major Concern

Almost a third of summer travelers will take on debt

NEW YORK – April 21, 2025 – With Memorial Day right around the corner and summer travel plans starting to take shape, less than half of U.S. adults (46%) plan to travel this summer, according to a new Bankrate survey. That includes 38% who say they will voyage within the U.S. and 15% who plan to venture abroad.

Nearly a quarter of U.S. adults (24%) are not planning any kind of vacation this summer. Roughly another quarter (23%) aren’t yet sure of their summer vacation plans, and 10% are planning a staycation.

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Among non-travelers, a majority (65%) say a reason is that they cannot afford it. Digging deeper into this group, majorities of those who cannot afford travel right now say that everyday life is too expensive (68%) and travel is too expensive (64%) are reasons why they cannot afford to travel. Less than half say they are focused on other financial priorities (45%), while about 3 in 10 (29%) say they have too much debt.

Other reasons for opting out of summer travel this year include not being interested in traveling for a vacation currently (23%), being unable to take time off work (16%), and finding it to be too much of a hassle (16%). Additionally, 15% of non-travelers say they are worried about airline safety, while another 15% say it is because of their health/age.

Across generations who are not traveling this summer on vacation, millennials (ages 29-44) were the most likely to say they are not planning to travel this summer because they cannot afford it at 73%, closely followed by baby boomers (68%; ages 61-79) and Gen Xers (67%; ages 45-60), compared to only half of Gen Zers (50%; ages 18-28).

“When planning summer travel, it’s generally advised to book sooner rather than later. It also pays to zig when others zag,” said Bankrate Senior Industry Analyst Ted Rossman. “For example, think about visiting a destination during its shoulder season or offseason. Take an early flight or a late flight or a connecting flight. Or fly midweek. It’s going to be expensive if you travel at the most convenient times on the most desirable days to the most popular destinations.”

Among those planning to travel this summer, 29% say they will take on debt as a result. This includes 23% who say they will pay with a credit card over time, 5% who plan to use buy now pay later services, 4% who will borrow from family/friends, and 2% who will take out a personal loan. Survey respondents could select more than one anticipated payment method for their summer travel.

Younger generations are more likely to go into debt for travel, with 34% of millennial and 31% of Gen Z travelers planning to take on debt, compared to 29% of Gen X and 22% of baby boomer travelers.

Overall, the most popular payment method among anticipated summer travelers is cash (56%), followed by debit cards (47%), credit cards paid in full to avoid interest (42%), credit cards paid over multiple billing cycles (23%), and rewards points/miles (20%).

“The average credit card charges about 20%, so going into debt is an expensive proposition, especially since Americans are sitting on a record $1.2 trillion in credit card debt,” added Rossman. “But don’t let the summer pass you by without having any fun. To save money on a vacation, consider putting rewards points and miles to use. You can also sign up for a new credit card to earn a welcome bonus that can fund a free or discounted trip. A staycation can be a fun fallback option.”

Methodology:

This survey has been conducted using an online interview administered to members of the YouGov Plc panel of individuals who have agreed to take part in surveys. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,238 U.S. adults, of which 1,024 plan to travel this summer. Fieldwork was undertaken between March 10th-12th, 2025. The survey was carried out online and meets rigorous quality standards. It gathered a non-probability-based sample and employed demographic quotas and weights to better align the survey sample with the broader U.S. population.

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