Tariffs And Inflation Affect Summer Travel Plans, New Survey Says
Nearly half of Americans say President Trump's tariffs will affect their summer travel plans, a new survey says. (Photo by)
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As the summer travel season looms, nearly half of Americans say President Trump's tariffs are disrupting their travel plans, according to a new consumer survey.
The survey done by personal-finance website WalletHub reveals that 45% of Americans say tariffs are affecting their travel plans, while 63% say inflation is affecting such plans. Survey respondents could select more than one reason.
The survey also finds that 70% of Americans are concerned that a weakening dollar will affect the ability to travel internationally.
'Consumers have concerns about the current economic landscape, including its impact on summer travel heading into vacation season,' says John Kiernan, WalletHub's editor.
It's understandable that nearly half the people surveyed say tariffs are affecting travel plans, considering the tariffs are 'coming on the heels of years of inflation,' he says.
The survey also reveals that nearly 2 of every 3 Americans plan to spend less money this summer than last summer. More than 40% of Americans plan to use credit card rewards to pay for a vacation this summer.
Other survey findings:
*Americans are still paying off past travel expenses. Nearly one of every five people still has credit card debt from a previous vacation.
*Debt clouds Americans' summer fun. During vacation, 55% of people think about credit card bills that will arrive afterward.
*Debt is preferable to missing a vacation. One of every five Americans say they would skip a credit card payment before skipping a vacation.
'Travel has become non-negotiable for many people—even when it means taking on debt or falling behind on payments,' Kiernan says. 'If you're determined to travel, I recommend exploring every possible way to save–from following a strict budget to getting a travel credit card with a big sign-up bonus. You'll enjoy your experience a lot more if you don't have to pay interest on your travel expenses for months or years.'
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