The busy summer travel season is well underway, yet it’s not too late for companies across the travel and hospitality ecosystem to win the hearts, minds and wallets of consumers. In order to do so, however, executives such as yourself need to have a strong understanding of the current trends and consumer environment to be successful.

With that in mind, this article recaps key insights shared in the 2024 Deloitte summer travel survey. A sample of 4,022 Americans took this survey between March 20 and April 2, 2024. Here are some of the important highlights from the report:

  • Cost concerns on the rise: Nearly half (48 percent) of respondents plan to take vacations involving paid lodging, but they’re watching the price tag. Although Americans’ financial confidence is similar to summer 2023, the perception of inflated fares and fees is affecting every aspect of travel this season. Cost concerns have risen across income levels but deter low-income Americans the most. Expect significantly fewer lower-income travelers and significantly more higher-income travelers this summer.
  • Budgets are bigger: Perhaps to negate point one, travelers are budgeting more for their summer travel plans. Each income group plans to spend 6 percent to 13 percent more than in 2023. Due to the growth in high-income influence, overall summer budgets are up 18 percent.
  • Fewer and shorter trips: The average traveler plans 2.3 trips this summer, bringing frequency back down to 2022 levels after it rose to 3.1 in 2023.
  • Deal seeking is up: This trend is likely to influence traveler behavior on both product selection and booking channel. Higher emphasis on deals, even with a wealthier traveler pool, indicates that pricing pressure is widely felt.
  • Road trips are up: Seven in 10 U.S. travelers say they plan to take a road trip this year, up from 57 percent in 2023. Half of road trippers cite driving as a cost-saving strategy.
  • The summer travel season is extending: The percent of summer trips slated for post-Labor Day September has risen from 12 percent in 2022 to 17 percent in 2024. Don’t end summer travel marketing plans early this year.