February 24, 2023 -- The new year is here and many Americans are sorting out their vacation and travel plans for 2023. Whether that means a staycation, a European road trip, or a weekend at a rental home, we wanted to find out how people across the U.S. plan to travel. IPX1031 surveyed more than 1,000 Americans and found the majority are planning trips, with nearly 1 in 3 planning to stay at a vacation rental home.
While vacationing this year, 70% of Americans plan to stay in a hotel and 30% plan to rent a vacation home.
Among second-home owners, 51% own a second home in a different state, 39% own in the same state where they live, and 10% own a second property abroad. The most common types of vacation homes Americans own are lake houses (21%), beach homes (21%), and cabins (15%).
Currently, 31% of second-home owners rent out their property. Among those who don’t, 15% plan on renting out their home in the future.
More than 90% of Americans plan to travel in 2023. The majority (86%) are planning a trip out of state, while nearly 1 in 3 (30%) are planning on vacationing abroad. Not everyone traveling in 2023 will be doing so for pleasure, as 20% will be traveling for business.
A long travel day isn’t for everyone, in fact, 40% are planning a staycation this year. The top reasons include wanting to spend time at home while not working (38%), cost (26%), and convenience (23%).
More than half of Americans (67%) are also looking into a road trip this year. Slightly fewer (57%) plan on flying. The top reasons why people will not be catching a flight in 2023 include cost, preferring to take a train or driving, and not liking to fly.
The travel bug has bitten the majority of Americans as 51% plan to travel more in 2023 than they did in 2022. Furthermore, 41% plan to travel the same amount, and 8% plan to travel less. More than 1 in 2 (56%) will be taking a trip with family members, 55% will be joined by their spouse or partner, 29% will be traveling with friends, and 28% are planning a solo trip.
While some people may fill up their schedule with travel plans, others may only be taking a few trips throughout the year. More than 1 in 10 (12%) will be taking one trip in 2023, 28% are planning two, 24% will be taking 3 trips, 11% are planning 4, and 18% are planning more than 5 trips.
59% of Americans say the current economy is impacting their travel plans. Additionally, 82% will be budgeting and watching their expenses more closely ahead of 2023 travel, and 1 in 10 have canceled or postponed a trip this year due to cost.
When it comes to just how much Americans plan on spending, 24% are setting aside $4,000 or more for travel in 2023 and 43% will use travel rewards to help cover expenses. The top destination among Americans in 2023: Florida.
The Sunshine State may be a popular location for Spring Break. In fact, 18% of Americans are planning a spring break vacation. More than half (51%) of those going on spring break will stay in a hotel, 21% in a rental home, 23% with friends/family, and 6% in their second home.
View full survey here.