Another 53% of Americans plan to splurge on travel this year pulling from savings to hit bucket list trips.
NEW YORK, March 30, 2022 /PRNewswire/ -- It's been a long couple of years, but Americans are no longer holding back where travel is concerned. Almost half of Americans plan to travel in 2022 and they plan to spend big. Many will also be ticking bucket list locations off their lists.
According to ValuePenguin's most recent survey, reignited interest in travel will also spark remote workers to take their work on the road.
View full report: https://www.valuepenguin.com/travel/americans-planning-more-travel-2022
Key findings:
- Nearly half of Americans (45%) plan to travel more this year than last, in hopes of making up for lost time and seeing loved ones. Americans plan to take an average of three vacations this year, led by Gen Zers and millennials with four trips.
- With pent-up demand following pandemic-related restrictions, many travelers have once-in-a-lifetime trips planned: Nearly a quarter of Gen Zers and millennials with travel plans are taking a "bucket list" vacation, while a third of travelers with incomes above $100,000 are planning an international getaway.
- The rise of remote work makes it easier to getaway. About 30% of travelers plan to work remotely during one of their trips; that percentage is even higher among Gen Zers (39%) and millennials (37%). The upside to being a "digital nomad" is that working vacations allow for extra trips, with remote workers planning five getaways as compared to the overall average of three.
- Travelers are ready to spend big, putting their savings to good use: 53% will spend $3,000 or more on travel this year, while only 39% spent that amount last year. Nearly half of travelers (46%) will use money saved up to pay for their trips.
- An eye on credit card rewards: Nearly a third of Americans (31%) will apply for a new travel rewards card this year, including nearly half of Gen Zers (46%). Additionally, 27% will cash in on travel rewards they have already accumulated.
About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com, like our Facebook page, or follow us on Twitter @ValuePenguin.
Media Contact:
Nadia Gonzalez
Nadia@LendingTreeNews.com
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SOURCE ValuePenguin.com
