83% of Americans reported spending less on their vacation this year due directly to Covid-19

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83% of Americans reported spending less on their vacation this year due directly to Covid-19
MirceaIancu / Pixabay

Travel has been hard for many people across the country this summer because of the Covid-19 pandemic. Maybe people have had to alter their summer vacation plans or completely cancel them all together.

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In order to find out how Americans have adjusted their vacation plans during Covid-19, IPX 1031 recently surveyed more than 2,000 people from across the country who have either taken a vacation this year or plan to do so. They asked about where they traveled to this year and there plans for travel in the future. Let’s dive a bit deeper into the results.

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Covid-19 vacation plans

Only 27% of Americans have taken a vacation since Covid-19 began. 62% of those regret taking their vacation due to limitations on their trip. On top of that, only 20% of Americans say they are planning on taking a vacation this year. 64% say they don’t feel safe flying currently and 33% say they won’t fly until there is a vaccine. One alternative to regular travel is staycations. Their survey found that 15% of Americans have done a staycation this year as opposed to traveling out of state or out of the country.

How Covid-19 changed vacation plans

Of those who have vacationed, 70% changed their destination, 81% avoided large cities and 76% monitored Covid-19 cases in the area before traveling. As mentioned in the paragraph above, many people are changing their vacation plans because they don’t feel safe flying with many unsure when they will fly again without a vaccine.

Who’s Vacationed Since Covid-19?

The most popular domestic travel destinations during Covid-19: 1. California 2. Florida 3. New York 4. Texas 5. Nevada. Of those who have vacationed since the start of Covid-19, 30% said they traveled during Memorial Day weekend or the Fourth of July weekend. 20% said they weren’t able to fully relax due to Covid-19 and 27% said Covid-19 caused them extra stress while traveling.

Vacation budgeting during Covid-19

83% of Americans reported spending less on their vacation this year due directly to Covid-19. 58% said they purchased traveler’s insurance for their vacation because they were worried about having to cancel. Only 15% said they took a vacation during a work furlough.

Biggest concerns for flying

When asked about why travelers are passing on flying this year, 70% said because passengers were unable to social distance, 69% said they were fearful passengers wouldn’t wear a mask and 58% said they had issues with the planes or airports not being sanitized or cleaned.

The full report from IPX 1031 can be seen in the graphic below.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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