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Encouraging Travel Findings from ValuePenguin Survey

Nearly half of Americans are planning to travel more in 2022, but many of them will take their remote work with them on vacation, according to a new ValuePenguin survey.

Key findings:

• Preparing to travel: Nearly half of Americans (45 percent) plan to travel more this year than last, in hopes of making up for lost time and seeing loved ones. Americans plan to take an average of three vacations this year, led by Gen Zers and millennials with four trips.
• Pent-up demand: Following pandemic-related restrictions, many travelers have once-in-a-lifetime trips planned. Nearly a quarter of Gen Zers and millennials with travel plans are taking a "bucket list" vacation, while a third of travelers with incomes above $100,000 are planning an international getaway.
• Remote work: The rise of remote work makes it easier to getaway. About 30 percent of travelers plan to work remotely during one of their trips; that percentage is even higher among Gen Zers (39 percent) and millennials (37 percent). The upside to being a "digital nomad" is that working vacations allow for extra trips, with remote workers planning five getaways as compared to the overall average of three.
• Travel funds are flowing: Travelers are ready to spend big, putting their savings to good use. 53 percent will spend $3,000 or more on travel this year, while only 39 percent spent that amount last year. Nearly half of travelers (46 percent) will use money saved up to pay for their trips.
• An eye on credit card rewards: Nearly a third of Americans (31 percent) will apply for a new travel rewards card this year, including nearly half of Gen Zers (46 percent). Additionally, 27 percent will cash in on travel rewards they have already accumulated.

The full report can be accessed at: https://www.valuepenguin.com/travel/americans-planning-more-travel-2022

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