Quicken survey shows men are willing to spend a lot more and make bolder travel plans to make up for a lost year
In a strange gender divide, a recent survey shows that men are much more inclined to take more and longer vacations. as the United States emerges from the long lockdown. Men are also inclined to spend significantly more money on travel and vacations than their female counterparts.
The survey, conducted by personal finance software maker Quicken Inc., noted that while people anticipate a major return to summer travel this year, men and women differ significantly in their expectations for it. what this trip will mean and what those related expenses will be. to be. But regardless of gender or differences, more than 75% of those polled said they plan to go on vacation at least once this summer, and half plan to take more than one trip.
The Quicken survey found that nearly half (43%) of respondents expect to spend more money than in previous years. Men are more likely than women to plan big budget trips. Parents of children under 18 also said they plan to grow up spending more on longer trips and with more people.
Expect big plans
Quicken’s investigation found that after the lockdown, those planning to travel generally plan to spend more money this summer than they did before:
- Over 75% said it was in response to their experiences with COVID-19
- 42% because they could not go on vacation in 2020
- 36% because they saved extra pocket money during the pandemic, and
- 25% because they feel the impact of inflation on travel costs as the economy recovers
The price of the genre
The survey showed how women plan to spend significantly less on vacation than men. In addition to taking on more household chores since the start of the pandemic, a significant number of women have lost their jobs when the economy closed or have been forced to quit their jobs to care for children or care. members of their family. In April 2020, the the female unemployment rate was 16.1 percent, 2.5 points higher than that of men.
These trends were revealed in the following findings of the survey:
- Of those who planned to spend less than $ 1,000 on their vacation this year, 21% were men and 33% were women.
- Of those who planned to spend more than $ 7,500 on their vacation, 4% were women, while 8% were men.
- Some women skip travel altogether – women are more likely not to plan vacation trips this summer or to be unsure (27% women vs. 18% men)
From caregiving to personal care
Quicken’s investigation found that women focus on personal care this summer and travel for different reasons than men. Some 29% of women said they plan to take a vacation this summer to improve their mental health and take care of themselves, compared to just 17% of men.
âObviously, the Covid pandemic has created pent-up demand for travel, and we are seeing people investing their money in well-deserved time off,â said Quicken Marketing Director Linda Itskovitz. âBut returning to ‘normal’ travel could have a negative impact on people’s personal finances. ”
Vacation of choice
In many cases, people want to focus on their mental well-being and spend time with friends and family that they haven’t seen in a while, rather than embarking on the urban or cultural adventures that they are. ‘they could have continued in the past. When asked what type of vacation they would like to take this summer, 24% of respondents said it was a relaxing break at the beach or to take care of yourself and about a quarter of men and women plan to see their family or friends. Only 6 percent of those surveyed plan to go to the city or on a cultural vacation.
Next year Paris
Americans aren’t that keen on going overseas right now. In fact, the survey shows that this summer will not be the summer of international European holidays. Of those who travel, 70 percent of those surveyed travel only within the country, and 16 percent of those who say they would have gone abroad if things had been more open. 11% still do not know if they will venture outside the United States. Men were more likely than women to have international travel plans, with 23% saying they would travel both overseas and domestically or only overseas.
To travel or not to travel
Almost a quarter of respondents do not travel or are still unsure whether they will be traveling. Of those not planning to travel, 41% cited reasons related to the pandemic, with 28% saying they don’t feel comfortable traveling with the pandemic still active.
Concerned about the cost? Quicken offers a handy new vacation calculator, here.