Americans Are Expected to Spend Even More on Summer Vacations Than They Did in 2019, According to a New Study
American tourists are more than ready to get back to summer travel and are expected to spend even more on an upcoming trip than they did in 2019, according to a new study released ahead of the Fourth of July holiday.
U.S. travelers are predicted to spend $153.7 billion on summer vacations this year, about 50% more than they spent in 2019, according to insurance company Allianz Partners' Vacation Confidence Index. It's also a nearly 160% increase over what people spent in 2020 when much of the country remained locked down due to the pandemic.
On average, each household is forecast to spend $2,122 this summer. That marks only the second time people planned to spend more than $2,000 since the company started tracking vacation habits in 2010.
"Summer 2021 will be remembered as the summer that Americans finally stopped taking their vacations for granted and eagerly hit the road with a revenge travel budget," Daniel Durazo, the director of marketing and communications at Allianz Partners USA, said in a statement provided to T+L, adding "the concept of pent up demand is real."
Durazo said the anticipated 2021 spending will "shatter all previous records."
When it comes to hitting the road, younger people are leading the way. In fact, the company found 73% of respondents between 18 and 34 years old said they were hopeful they'd get to take that long-anticipated vacation. Alternatively, only 51% of people 55 and older were confident in summer vacation plans.
Of those who are holding off, 38% percent said it was because they didn't want to spend the money and 44% cited other reasons.
The study was compiled by interviewing more than 2,000 Americans 18 and older from May 24 to 28.
The findings come as summer travel ramps up and people are taking to the skies in record numbers. This month, more than 2 million passengers passed through U.S. airports on multiple days, according to the Transportation Security Administration.
Alison Fox is a contributing writer for Travel + Leisure. When she's not in New York City, she likes to spend her time at the beach or exploring new destinations and hopes to visit every country in the world. Follow her adventures on Instagram.