Economy Taking a Toll on Vacations

May 12, 2009 (PLANSPONSOR.com) - The latest poll from AP-Gfk finds that 56% of individuals surveyed are not planning to take a vacation trip this summer.

One-third of Americans surveyed said they have canceled a trip this year because of financial concerns. In addition, 11% said they decided to vacation closer to home this year due to financial concerns, according to the survey results.

Not surprisingly, the less money you make, the less likely you are to take a vacation. More than two-thirds of those in the $100,000-plus bracket will take some type of leisure trip this summer, compared to 48% of those earning $50,000-$100,000 and just one-third of those with family incomes under $50,000, the AP said.

In terms of destinations, 12% of those planning a trip said they would stay in their home state, 67% will go to another state, and 19% will travel outside the U.S. Twenty-three percent of respondents said they will save money by staying with friends or family instead of in a hotel.

However, travel bargains are tempting a small number of people – mostly upper-income – to take bigger and better trips, the AP found. Seven percent of all Americans and 18% of those earning more than $100,000 said they would take more elaborate trips than usual because of lower prices.

By age, 30-49-year-olds were most likely to travel, with 48% planning a trip. Among those ages 18-29, 43% said they would travel, and among those ages 50-64, 41% plan a trip. Just 34% of those 65 or older plan to travel this summer.

The poll was conducted by GfK Roper Public Affairs & Media from April 16-20 by landline and cell telephone interviews with a nationally representative random sample of 1,000 adults.

Complete poll results are here .

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