Fewer Americans are planning to travel this summer, according to a survey by the consumer finance company Bankrate.
Some 46% of respondents said they are planning a summer vacation this year — down from 53% in 2024. Of those who don’t intend to travel, nearly two-thirds (65%) said money was the main reason.
However, it’s not just travel costs that are keeping people from planning trips — more respondents said the cost of everyday life (68%) was a bigger issue than vacation expenses (64%).
Additionally, the number of those who said they were “not sure” about their summer vacation plans increased — from 18% in 2024 to 23% in 2025.
Recent tariffs and fears of a possible recession are causing more travelers to take a wait-and-see approach to summer holidays, said Ted Rossman, a senior industry analyst at Bankrate.
“We’re seeing more layoffs and the potential for higher prices, which has many people on edge,” he told CNBC Travel, citing a drop in consumer sentiment in recent weeks.
However, the number of people who said they weren’t planning a summer trip also fell — from 29% in 2024 to 24% in 2025. The survey showed that those planning to use debt to finance their summer holidays decreased from 36% to 29% too.
The survey of 2,238 adults was conducted in mid-March.
Other reasons people are staying home
Slow start to the year
Domestic spending for lodging, flights and tourism activities is off to a slower start in the United States this year, according to a March report from Bank of America.
“It could be that the recent drop in consumer confidence is translating into people hesitating to book trips, or considering paring them back,” the report states.
It also noted that bad weather spells in parts of the country could have curtailed travel spending, while a later Easter holiday may have pushed some spending — which typically occurs in March — to April.
People in Elmo costumes walk through Times Square during a snow storm on Feb. 8, 2025, in New York City.
Craig T Fruchtman | Getty Images Entertainment | Getty Images
Lower-income households are cutting their travel spending the most, while wealthier travelers may be choosing to spend more money abroad, the report states.
The travel and tourism sector makes up around 3% of U.S. gross domestic product and employed around 6.5 million people in 2023, it states, citing the Bureau of Economic Analysis’ Travel and Tourism Satellite Accounts.
Spending still higher than 2019
Still, domestic spending on hotels, flights and tourism-related activities is higher than 2019 levels, according to the Bank of America report.
Rossman added that despite lower consumer sentiment, many people are still planning to travel this summer.
“Airlines are warning about lower demand and lower profits, and we’re hearing some concerns from potential international visitors to the U.S. because of political reasons,” said Rossman. “Despite the gloomy mood, we’re still seeing a lot of travel.”
