TEXAS, USA — Summertime is here, and travelers are ready to hit the road.
More than half of Americans are planning to travel this summer, according to a new survey done by TopCashBack. Additionally, 61% of travelers plan to spend more this summer compared to last year, according to a Bankrate survey.
The high demand comes from the end of the pandemic emergency that was declared by President Biden in April. This concludes the era of COVID-related travel restrictions, which means 2023 will be the first summer of the 2020s without extra factors to keep in mind when planning trips.
Wells Fargo Finance & Gaming Rep., Scott Andrews explained how the end marked a symbolic reset for many Americans, with many forgoing spending big on certain things to fund that summer vacation, family trip, or solo vacation.
"They're choosing to spend less on goods and services and use that money to travel," said Andrews. "The cost you're paying for an airline ticket, the cost that you're paying for a hotel room. Hotel rooms on average the cost was up almost 20 percent from 2022 to 2023, uh but they're still being filled."
Simply put, people are eager to get out.
"That pent up demand or revenge travel coming back," said Dan Politzer, Wells Fargo Finance & Leisure Rep.
As people are looking to get back out there, TopCashBack consumer expert Samantha Landau explained how planning now can prove to be beneficial when looking at how much you've spent at the end of the year.
In a recent travel forecast, Expedia reported that online flight searches have increased by 25% from June through August compared to this same time frame last year. Additionally, despite flight prices spiking, she said it's pushing more people on the road to save some money.
"To cut those costs you're gonna wanna make sure you're using the right credit card when you're shopping," said Landau. "Credit cards that gives you miles, points, cashback, whatever it may be."
Using sites like TopCashBack to get cash back rewards provides money-savvy deals when booking flights, hotels, or Airbnb's or rental properties.
Airlines are also bracing themselves for the repeat season of flight disruptions it could bring as well, which the world saw unfold at the end of last year.
"And also just traveling at different times and being flexible so you're gonna travel cheaper mid weekend than the week," said Andrews.
However, with prices constantly fluctuating in gas and airfare, you're never fully sure where prices are going to swell up.
"You really don't know these days so you wanna make sure you're doing your research really," said Landau. "You wanna take in consideration all of the ways that you can save so that you know that you're stacking you're savings as much as possible."
Both experts advise that you make budgeting your best friend this summer whether you decide to fly, drive, or go on a cruise, because it can be the difference in being able to go to that nice dinner, enjoying a few drinks, or having to amend your vacation plans.
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