Travel is back, just not for everyone

It’s getting warmer, summer is coming into focus, and people are itching to get out and enjoy some time off.

But is this the summer of travel? A post-pandemic record-breaking Memorial Day weekend of travel suggests that it could be.

This summer is poised to be the first after the COVID-19 pandemic first shut down most people’s travel plans. Most Americans agree the COVID-19 pandemic is over, and more Americans are making plans to travel.

But travel is a luxury, and that’s reflected in the Americans that are making plans to travel this summer.

Below are five charts on the resurgence of travel plans for this summer and a closer look at the Americans making plans to travel this summer.

1. Air travel is taking off. Memorial Day’s airline travel surge wasn’t a one-time thing. Airline travel has been resurging to pre-pandemic levels for months, and lately, it’s hovering around where it was back in 2019, before any talk of COVID-19. People are venturing out again.
2. By air, by land. It’s not just airfare. More and more people are planning to travel over 100 miles by car. While road trips were in vogue during the pandemic, more people also report planning to fly domestically at rates we didn’t see when COVID was still top of mind. Many Americans are hitting the road or the tarmac this summer.
3. Traveling is a luxury. Who is doing all this traveling? Not all Americans can make plans to get away this summer. It tends to be higher-income people making over $100k who are planning road trips and air travel. Summer of travel? Maybe not for everyone.
4. Consumer confidence boost. In addition to being more likely to travel, higher-income Americans are also more likely to feel confident about their finances. Traveling is a financial decision, not just a personal one. Things are rosier for some; less for others.
5. Rising prices, stagnant savings. Disposable income is about where it was before the pandemic. But after a historic wave of inflation, prices are not where they used to be. Inflation is a regressive tax. This summer, it’s going to affect travel. In what ways? We will see.

Many Americans continue to hit the open road. And, after years of postponed travel plans, it’s looking like air travel is finally back to where it once was. Are we finally back to normal?

But it isn’t all green pastures. Inflation, unsurprisingly, is underscoring that travel is a luxury. Even as COVID has receded as a worry, many are still feeling the pinch of higher prices. Travel is one of those places where some Americans are squeezed. Will Americans prioritize it? We will see.