Most Americans have given up all hope of a summer vacation because they just can’t afford it anymore, a new poll shows.
Forty-four percent of those surveyed said they’ll be staying put over the next three months as the crippling cost of living crisis rages on, according the Newsweek and Redfield & Wilton Strategies poll published Thursday.
More than half of respondents — 53% — said they would have set off on a summer trip if only their expenses were cheaper, the poll found.
Of those who do plan to travel this summer, 64% said their itineraries had been affected by the high cost of living.
The majority of those travelers (55%) have opted for cheaper destinations, while 45% are finding a less-costly way of getting there.
And another 30% said they’ve been on the hunt for more affordable accommodation.
Gen Xers (57%) were most likely to still travel if costs were down, while 54% of millennials and 50% of boomers said they’d still set off if they could afford it.
The findings come as a growing number of Americans continue to struggle with cost of living woes — as soaring levels of inflation and lagging wage growth drive up costs.
Inflation levels have skyrocketed 17% since President Biden took office, while grocery prices are up 20% from before the COVID-19 pandemic.
Still, not every American was as willing to give up their summer vacation plans.
A Bankrate poll from April found that 36% of Americans were willing to go into debt to cover the cost of their trips.
The Newsweek poll, which between June 27 and 28, was run among 2,500 eligible US voters.
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