RetailMeNot.com released the Summer Travel Edition of its Shoppers Trend Report. The survey, conducted jointly with Ipsos Public Affairs , found that 74% of respondents plan to take a vacation this year. Although 32% of Americans surveyed plan to spend $1,000 or more per family member in costs, 68% of respondents do not pay or set aside funds for vacations in full before departure.
Key findings include:
- U.S. adults are fairly split when it comes to budgeting and paying for a vacation. Although a plurality (40%) of respondents report that they typically pay for part of their vacation ahead of time and then use a combination of cash/credit/debit for expenses incurred during the trip, as many as 28% of respondents usually pay for their vacation using credit.
- Almost one-third (32%) of adults surveyed are planning to spend at least $1,000 on vacation per family member this year, and one-sixth (17%) plan to spend upward of $2,500 per family member.
- One in seven working adults surveyed (14%) report that they do not receive any vacation or paid time off from work. For this group of Americans, the act of taking time off from work comes at a cost, before travel expenses are even incurred.
- When survey respondents were asked where they are most likely to spend the majority of their vacation budget outside of transportation and hotel costs, 38% expect meals and drinks to consume the greatest part of their budget, while 21% say they are likely to spend the majority of their vacation budget on entertainment, excursions and activities at their destination (e.g., tours, spa services and bike rentals).
- To save money on lodging during their next vacation, more than one-third (38%) of respondents indicate that they will consider staying with family and friends. Other cost-saving strategies include staying at an all-inclusive resort (25%) and renting a vacation home vs. staying in a hotel (25%).
- Nearly half (48%) of Americans surveyed do not typically tip housekeeping when they stay at a hotel.
- Respondents from the South are more than twice as likely as those from the Northeast to say they don’t tip the housekeeper (56% vs. only 25%).
- Among those who do tip, 44% leave at least $5, while a third (33%) tend to leave just a dollar or two.
The survey also found that men and women have different vacation and spending habits:
- Men are twice as likely as women to splurge on vacation spending, saying they will spend at least $1,000 per family member for vacation this year (43% vs. 21% of women).
- A slightly higher percentage of males vs. females say that they typically tip housekeeping (56% vs. 49%).
- One in five (20%) women do not receive paid time off compared with just 9% of men.