NEW YORK, NY – Travel search site momondo today released survey data showing that more than half of Americans – 56% – regularly set aside money throughout the year in order to pay for a summer vacation.
momondo surveyed 1009 Americans between 18 and 65 on their vacation spending habits. The travel leader also found that:
• 72% will not spend more than $5,000 on a summer vacation
• 51% create a budget for their vacation, while 16% don’t have any budget constraints
• Men are more likely than women to spend on a “luxury” trip, defined as over $11,000
• Travel tops the list of preferred ways to spend money (26%), ahead of clothes (16%), electronics (14%), food and wine (14%) and home improvement (9%)
• The most popular ways to cut costs on vacation are food (40%), accommodations (36%), shopping (36%) and plane tickets (29%)
“As Americans look toward summer vacation, we see many people carefully planning a budget and looking for ways to cut costs,” said momondo spokesperson Lasse Skole Hansen. “It’s worth noting, however, that men seem less concerned. In addition to being more likely to spend on a luxury vacation, they were also 25% more likely than women to not do anything to save for an impending vacation.”