METRO DETROIT (WXYZ) — One in four Americans are planning to stay home rather than travel this summer, according to a new survey by Bank Rate. Of the more than 2,000 U.S. adults surveyed, 65% said they do not plan to travel in the coming months.
Travel experts say economic uncertainty is causing some potential travelers to delay making vacation plans, even as airfare costs have dropped since February 2020 and are down from last year according to theBureau of Labor Statistics.
"Because of tariffs in the economy, people are kind of sitting on the sidelines a little bit and keeping an eye on things because they want to know what they can afford and what they can budget for," said David Fishman, president of the Cadillac Travel Group in Royal Oak.
Fishman noted that while he doesn't believe the actual reduction in travel isn't as steep as the survey suggests, there has been a noticeable decline in bookings.
"The key right now is consumer anxiety," Fishman said. "The pricing is going up more in the daily things than necessarily travel rates right now so you're not seeing that yet in the travel rates so ironically the thing you should be buying now is travel and not eggs."
This hesitation from travelers is creating opportunities for deals, according to Fishman.
"The vendors are gonna want to get them back out to the airlines, the cruise lines, the hoteliers. They want to get them out, so there's going to be deals that are going to coming up. There has been a reduction even on some of the flights with the airlines," Fishman said.
Some travelers remain undeterred by economic concerns.
Randi Sade (jean jacket) has trips planned to Georgia and Texas for summer vacations with her children, while Paris Nettles (black jacket), a real estate professional, says business gains have justified her travel decisions.
"You want to get out travel, see the world and if you wait you might miss your mark. That's what I say," Nettles said.
Others acknowledge the financial considerations but are determined to travel anyway.
"It's definitely something you have to think about. I have to think about do I have enough money to do this what is the future going to hold things like that," said Colleen, who is planning to travel this summer.
For families still hoping to vacation this summer, Fishman offers several practical tips:
- Be flexible with dates and destinations
- Consider locations that are less popular during summer months
- Book now rather than waiting
- Consider road trips to destinations like Chicago, Cedar Point, or various halls of fame
Fishman also recommends working with a travel agent to navigate the current landscape.
"There's two places in life you need an advocate, hospitals and travel because there's constant changes, constant cancellations, weather, you know, any number of different things can affect you," Fishman said.
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