Fewer Americans are planning to travel this summer, according to a survey by the consumer finance company Bankrate.

A recent survey conducted by Bankrate reveals that only 46% of Americans intend to travel this summer, a decline from 53% in 2024. The main deterrent for 65% of those who plan to stay home is financial constraints, with rising costs of everyday life (68%) being an even more significant concern than travel costs (64%). The survey notes an uptick in uncertainty, with 'not sure' responses increasing from 18% to 23% year-over-year. According to Ted Rossman, a senior industry analyst, heightened fears of a recession and increasing layoffs could account for this cautious approach to summer travel planning. Interestingly, while fewer respondents expressed a desire to travel, the percentage planning to forgo summer trips completely fell from 29% to 24%. Additionally, reliance on debt for summer trips decreased from 36% to 29%. This survey drew from a sample size of 2,238 adults and was conducted in mid-March. The report also highlights changing attitudes towards travel, with 15% of respondents now worried about flight safety, an increase brought about by several recent aviation incidents. Moreover, external factors such as domestic spending trends and economic reports suggest that while the travel industry continues to face obstacles, spending on tourism and lodging remains higher than pre-pandemic levels. This situation exemplifies broader economic trends impacting consumer behavior, especially among lower-income households which are likely to reduce travel spending significantly, while higher-income travelers may seek international experiences despite broader economic uncertainties. As the travel landscape evolves, many appear to maintain a desire for exploration, albeit with substantial adjustments based on affordability and safety considerations.