Americans plan bumper summer of travel despite fuel price pressures, Bank of America finds

More US consumers intend to take a summer holiday this year than at any point since 2024, according to new research from Bank of America Institute, even as rising fuel costs reshape how far and how often they plan to go.

The bank's 2026 Summer Travel and Entertainment Outlook found that 77% of Americans expect to travel this summer, up from 74% last year and 72% in 2024. Willingness to travel climbs with income, with 93% of higher earners planning trips compared with 86% of middle-income households and 62% of those in the lower-income bracket.

Generationally, Gen Z is the most enthusiastic traveler, with 93% planning getaways this summer, ahead of millennials at 85%, Gen X at 73% and baby boomers at 62%. The youngest cohort also stands out for its choice of trips, gravitating toward wellness retreats, concerts, sporting fixtures and weddings far more than older generations.

Fuel prices are complicating those plans for some. Just under a quarter of respondents, 23%, said they would cut the number of trips they take this year, while 10% said rising costs would force them to cancel travel altogether. Even so, 31% reported that fuel prices were having no bearing on their summer arrangements, and 22% said they were trimming food and accommodation budgets instead to keep travel plans intact.

Domestic trips remain the default choice, with 53% of travelers planning to cross state lines and a further 17% staying within their home state, though that share has fallen from 25% in 2025. International travel is gaining ground, particularly to Europe, which more than doubled its share of intended destinations compared with 2024, and to Asia, which has nearly tripled over the same period.

Artificial intelligence has become a fixture of trip planning, with 55% of Americans using AI tools to organize their summer travel, primarily to compare costs and surface destinations they might not have otherwise considered. More than half of those who used AI for planning, 56%, said it led them to book somewhere new, a figure that rises to 78% among Gen Z.

Value remains the dominant consideration for most travelers. Only 4% of respondents said they were prioritizing premium or luxury experiences regardless of cost, a pattern consistent across income groups and generations. When Americans do choose to spend more freely, food and dining tops the list of priorities at 60%, ahead of activities and experiences at 54% and accommodation at 41%.

To help cover costs, 46% of Americans plan to redeem credit card or banking loyalty rewards this summer, with Gen Z again leading the way at 80%, compared with 60% of millennials, 35% of Gen X and 19% of baby boomers.