Not Taking A Vacation This Summer? Your Not Alone

  • A new Bankrate survey finds that 49% of Americans don’t plan to take a vacation and when only allowed to choose one reason for not planning a getaway, 50% say they’re staying home because they can’t afford it
  • The survey finds that the median cost of a vacation is about $1,000, although Millennials are likely to spend less
  • Only 36% of those with paid time off say they plan to use all of their days, while 13% don’t plan to use any of them

Now that summer has officially begun, you may start noticing your office looking a little empty, with all the people heading out on summer vacations. But it turns out there are a lot of people who won’t actually be going away in the coming months, and there’s one major reason why they’ll be stuck in the office - money.

A new Bankrate survey finds that 49% of Americans don’t plan to take a vacation this summer, with 24% of people saying money is one of the reasons. When only allowed to choose one reason for not planning a getaway, 50% of those not taking a vacation say they are staying home because they can’t afford it, while other reasons include:

  • Family duty (25%)
  • Can’t take time off work (22%)
  • Other vacation plans (6%)
  • Health/age (4%)
  • Don’t want to (4%)

So if money is such an issue, how much are vacations costing most people? Well, the survey finds that the median cost is about $1,000, although Millennials are likely to spend less. About 27% will spend between $1 and $500, while 25% will spend between $500 and $1,000, 21% will spend between $1,001 and $2,000 and 25% spending over $2,000.

Allison

Allison

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