American travelers’ expectations that the U.S. will enter a recession soon, with two-thirds now believing this economic outcome to be imminent (interestingly, this belief spans generations, geographic regions and income levels). As such, 68% of American travelers say they are being careful with their money as a result of recessionary fears. Of this group tightening their wallets, 79% said this includes reducing expenditures on travel. In fact, the percent of Americans saying travel is a priority in their budget right now has hit a 10-month low (at 54%) and the percent saying the present is a good time to spend on travel is the lowest it has ever been since we began asking the question back in July 2021 (at 25%).
