Experian Data Finds Travel Plans Take Off Despite Costs, Many Willing to Take on Debt
Despite rising travel costs and ongoing economic pressure, many consumers are still making travel plans. New data from a national Experian consumer survey shows that consumers continue to prioritize summer getaways and experiences, even if it means going into debt.
Roughly 33% of consumers already have booked travel for the next year, even as 67% say travel is less affordable than it was a year ago. More than a third (36%) say they are willing to go into debt in order to travel, especially to big ticket events. This dynamic underscores the importance of finding ways to budget, manage expenses and make the most of available financial tools, areas where Experian can help turn travel plans into reality.
The data highlights how travelers are attempting to balance rising costs with their desire to travel as they plan their vacation spending. Additional key findings include:
Don’t burn your finances this summer
