Diminished fun in the sun: Americans are spending 25 percent less on summer vacation this year over economic fears
More than half of Americans expect to travel less this summer
- Americans are significantly reducing their summer travel plans and spending this year compared to 2024.
- This downturn is attributed to growing economic fears, rising inflation, and a slowdown in consumer spending.
- Donald Trump's renewed threats of tariffs on 26 countries, including Mexico, the European Union, and Brazil, are a key factor contributing to economic uncertainty.
- The average summer holiday budget has decreased by 25 percent, from $4,199 last year to $3,132 this year.
- Over half of Americans (56 percent) intend to travel less this summer, with financial concerns being the primary reason, leading many to opt for shorter, domestic trips.