More Americans are planning to drive rather than fly to their summer vacation destination this year, according to data from Bank of America.
The report found that spending on airfare is down 3% year-over-year across the bank's consumer credit card accounts. And roughly 63% of travelers said they're taking a road trip in a personal car or a rental vehicle this summer, compared to 45% who plan to fly.
The economy is a big factor driving the road trip uptick. The report found consumer demand started softening in February as tariffs rolled out and mass layoffs occurred at the federal level. The economic uncertainty is causing some travelers to cut back their spending: 40% of people said they're opting for a road trip because it costs less.
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Corey Dahl
Corey Dahl is assistant editor with PropertyCasualty360.com. Reach her at [email protected].
