Increased Tariffs Impacting Summer Travel Costs: Findings from a Recent Survey
Summer Travel Woes: Tariffs, Inflation, and a Weakening Dollar Affect Vacation Plans, Say Americans
Think summer vacation is just sunshine and rainbows? Think again! A new survey initiated by personal finance site, WalletHub, reveals 45% of Americans are stressing over tariffs that are set to disturb their travel plans this summer. And that's not all, 63% of respondents confess inflation is causing a headache for their vacation budgets.
The survey further reveals that a whopping 70% of Americans are worried about how a weakening dollar might impact their ability to travel internationally. John Kiernan, WalletHub's editor, explains, "With tariffs following years of inflation, it's no wonder nearly half of the surveyed individuals are facing travel dilemmas."
Besides economic woes, other survey findings highlight that:
*Nearly two-thirds of Americans plan to cut back on their summer spending.
*More than 40% of Americans plan to utilize credit card rewards for their vacations this year.
*Despite financial strife, nearly 82% of Americans still plan summer trips in 2025.
*Many Americans are still repaying past travel debts, with nearly one out of five individuals still indebted from previous vacations.
*During vacation, a significant 55% of people ponder their upcoming credit card bills.
*One out of five Americans would prefer to miss a credit card payment rather than skip their much-coveted vacation.
Kiernan suggests, "If you're dead set on that dream vacation, it's crucial to explore various money-saving measures. From sticking to a strict budget to having a travel credit card with a hefty sign-up bonus, these tips will help you have a great vacation without saddling yourself with interest payments for months or even years!"
Though WalletHub's surveys do not directly delve into the impact of tariffs, inflation, and a weakening dollar on travel, these factors undoubtedly sway travelers' preferences towards budget-friendly and domestic destinations. Cities with lower costs, unique experiences, and a sense of value seem to be on Americans' travel radar this season.
- Amid rising concerns about tariffs and inflation, President Trump's policies could potentially influence Americans' choice of travel destinations this summer, as 45% of survey participants express anxiety about tariffs affecting their travel plans.
- With nearly two-thirds of Americans planning to cut back on summer spending, many may turn to personal-finance strategies such as utilizing credit card rewards (40%), to help finance their vacations this year, while still keeping an eye on their debt repayment plans.
