Vacations pass the value test: 2024 Deloitte summer travel survey

Among travelers, pricing perceptions are contributing to a pullback in the number and length of trips, among other belt-tightening behaviors. But Americans also are adjusting their budgets to make travel fit. Pricing perceptions are driving several patterns and behaviors this summer:

• Income mix shifts: With more low-income Americans deterred by high prices, high-income Americans are expected to make up a much bigger share of the traveling public this summer—44%, versus 35% in 2023.
• Budgets are bigger: Each income group plans to spend 6% to 13% more than in 2023. Due to the growth in high-income influence, overall summer budgets are up 18%.
• Fewer and shorter trips: The average traveler plans 2.3 trips this summer, bringing frequency back down to 2022 levels after it rose to 3.1 in 2023.
• Deal seeking is up: This trend is likely to influence on both product selection and booking channel. Higher emphasis on deals, even with a wealthier traveler pool, indicates that pricing pressure is widely felt.
• Road trips are up: Seven in 10 US travelers say they plan to take a road trip this year, up from 57% in 2023. Half of road trippers cite driving as a cost-saving strategy.

As Americans continue to find room in their budgets to enjoy summer travel, their preferences continue to evolve. Demand is up for non-hotel lodging, including private rentals, guesthouses, and recreational vehicles. International destinations are diversifying after a heavy focus on Europe in 2023. And, perhaps driven by continued workplace flexibility, the summer travel season is extending. The percent of summer trips slated for post-Labor Day September has risen from 12% in 2022 to 17% in 2024.