Planning a Trip? Consider These Costs

Hitting the Road Again

With travel back on the rise, here’s what Americans are planning for their next adventure.

The pandemic has changed the way we live—and travel. As Americans begin exploring the world again, where and how people vacation may now be different. Take a closer look at trends for the year ahead to confidently plan and fund your next adventure.

Going domestic

After a year at home, Americans are looking forward to getting out of the house. In fact, 72% of people intend to take a trip in 2021.1 Domestic travel is on the rise—56% prefer a U.S. destination to an international one.2

of Americans are planning at least three domestic trips in 2021.3

Top 5 domestic travel destinations4 and average cost of a seven-day trip for a solo traveler:

Prioritizing safety

Travelers may be keeping safety in mind when planning their vacation—62% of people will only visit areas with a low number of COVID-19 cases.10 Unsurprisingly, the availability of vaccines across the country has increased traveler confidence.

Leading motivators to get vaccinated:2

Reconnect with friends and family
36%
Feel safe while traveling
32%

of Americans who have already booked a trip say getting the vaccine was a factor in their decision to travel. 11

But precautions don’t stop there—travelers are prioritizing safety when it comes to accommodations, too. As a result, 89% of people who booked a hotel cited enhanced safety measures as a reason for choosing this lodging option.12

Where travelers will stay:13

Choosing transportation

Americans are also reconsidering how they’ll get to their vacation destination. More specifically, road trips have grown in popularity.

Preferred method of transportation:14

Cars
72%
Trains
39%
Domestic flights
38%
International flights
26%

Road trip destinations:15

Visit friends or family
41%
Beach
21%
National park
12%
One in five travelers want their destination to be within driving distance of their home.2

Considering costs

More than half of Americans plan to spend more money on summer trips in 2021 than in 2020; the average travel budget is currently $2,470.16, 10

To save for vacation, people are spending less on:17

43%

Dining out or getting takeout

38%

Alcohol

25%

Streaming services

Despite these efforts, more than a quarter of people traveling expect to accumulate vacation debt.18 That’s why personal loans can be a smart payment tool—for vacation, people borrow an average of $1,260.19

Of those Americans who have taken a personal loan, 24% used the funds for a vacation.19

After months of staying home, Americans are ready to head on their next vacation. By understanding future travel trends and considering personal loans, it’s possible to plan a trip that fits your budget and lifestyle.

Ready to plan your next adventure?

See what the possibilities are with no obligation or impact to your credit score. Check your loan options now.

Sources:

  1. “More Than 70 Percent of Americans Intend to Travel in 2021: New Skift Research Travel Tracker,” Feb. 18, 2021, Skift
  2. “Report: 2021 Will Be the Year of Meaningful Travel,” Jan. 28, 2021, Airbnb
  3. “2021: The Year of the Travel Rebound? 5 Traveler Trends to Watch Out for in 2021,” Jan. 21, 2021, TripAdvisor
  4. “Top 25 Trending U.S. Travel Destinations for 2021,” April 25, 2021, Travel Off Path
  5. “Cost of a Trip to New York, NY, US & the Cheapest Time to Visit New York,” 2021, Champion Traveler
  6. “Cost of a Trip to Maui, HI, US & the Cheapest Time to Visit Maui,” 2021, Champion Traveler
  7. “Cost of a Trip to Las Vegas, NV, US & the Cheapest Time to Visit Las Vegas,” 2021, Champion Traveler
  8. “Cost of a Trip to New Orleans, LA, US & the Cheapest Time to Visit New Orleans,” 2021, Champion Traveler
  9. “Cost of a Trip to Key West, FL, US & the Cheapest Time to Visit Key West,” 2021, Champion Traveler
  10. “How Will Americans Travel in 2021?,” 2021, IPX1031
  11. “A Shot in the Arm for Travel? Examining the Vaccine’s Impact on Leisure Travel Demand,” June 2021, TripAdvisor
  12. “Keen but cautious: US leisure travel in the second summer of COVID-19,” May 25, 2021, Deloitte
  13. “2021 Travel Stats, Survey Results: Majority Will Travel This Year,” March 4, 2021, Fifty Grande
  14. “Tracking the Return to Normal: Travel,” Aug. 11, 2021, Morning Consult
  15. “Survey: What Grabs Your Attention During Road Trips?,” March 30, 2021, Erie Insurance
  16. “Travel is Heating Up: Two-Thirds of Americans Planning Summer Vacations,” April 20, 2021, TripAdvisor
  17. “2021 Travel Trends Report,” March 8, 2021, Expedia Group
  18. “53% of Americans Have Summer Travel Planned, Expecting to Spend $2,400+,” May 19, 2021, ValuePenguin
  19. “Personal Loans Statistics,” March 8, 2021, Finder.com
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