Average Cost Of Travel Statistics For 2023 (2024)

Credit Card Rewards Expert

Updated: Jun 13, 2023, 9:37am

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In 2022, travel accounted for $1.2 trillion in spending nationwide, representing a return to pre-pandemic levels.[2]

Last year, you could expect to pay $378 for a round-trip domestic flight according to the Bureau for Transportation Statistics.[3] Once at your destination, the daily average cost for travel in most major U.S. cities was $354.55 including a hotel, car rental and meals.[4]

In 2023, prices are even higher due to continuing travel demand and inflation. Forbes Advisor reviewed publicly-available information to uncover the average vacation costs in major U.S. cities in summer 2023 since government figures aren’t yet available for the current year.[5]

These price tags aren't a surprise to Americans who plan to travel. Our survey found that nearly half of respondents budgeted $4,000 or more for travel throughout the year. Another 28% expect to spend between $2,000 and $3,999.[1]

Here’s what you may expect to pay for a three-night getaway right now:

A solo traveler could expect to spend a smidge under $1,400 on a trip lasting three days. This includes a round-trip economy flight within the United States, three nights in a mid-range hotel room, a three-day car rental and breakfast, plus daily lunch and dinner in a restaurant.

A family of four will need a higher vacation budget, with the average vacation costs coming in at a total of about $3,600. This assumes all four travelers share a single hotel room. Additionally, discounts for children’s meals at restaurants or flying free as a lap child are not included.

Destination choice can make a difference when determining the average cost of vacation per day. The most affordable cities for family vacations can be cheaper alternatives to more popular—and more expensive—destinations.

For many, the cost of transportation is a significant portion of their total travel budget. Booking flights adds up, especially if you have to tack on a rental car or other transit when you reach your destination.

Let’s dig into different types of transportation expenses. Keep in mind the average cost of transportation depends on the type of travel, time of year, location, gas prices and the amount of transportation a traveler relies on once they reach their final destination.

Flights

The average cost of domestic airfare was $378 in 2022, which was up 14.1% compared to 2021.[3] For international travel, you’ll face higher costs unless you find a screaming deal.

Those prices might sting if you cashed in on ultra-low fares during the pandemic. But those average costs are actually still lower than they were in 2019, according to the Bureau of Transportation Statistics.[3] It’s still too early to call whether 2023 will exceed those levels (though summer fares have indeed outpaced 2019). With inflation, and high demand for summer travel in particular, we wouldn’t be surprised if high prices stick around.

Travel by Car

Traveling with a personal vehicle is common—61% of summer 2022 travelers used their own car.[6] That’s a good way to cut costs considering the average cost to rent a car in the U.S. was $48.86 per day according to a Business Travel News calculator.[7] Expect rentals during peak

summer season to hover above average, but note that SUVs or specialty vehicles tend to cost more. Savvy travelers will book using the best car rental websites.

Regardless of what type of car you intend to drive, the price of gas can also be a major factor toward the cost of travel. As of June 1, 2023, the national average price of regular unleaded gas across the country was $3.57.[8] That’s a decrease from last year’s high prices but still doesn’t feel like a bargain.

Travel by Bus and Train

Ground transportation can at times provide a cost-effective alternative to flying. Long-distance bus travel remains a less popular travel option. Only 7% of adults who traveled in the summer of 2022 took a bus.[7] Despite routes advertised as low as $1 per one-way ticket, not all bus tickets are that cheap. Bus fare can rise up to over $400 round trip for peak routes and dates.[9]

Trains are slightly more popular, with 9% of summer 2022 travelers opting for the train.[7] Within the United States, train fare can run anywhere from $20 to $400 (or much more if you book a sleeper car).[10] It’s more than likely that traveling by rail will take more time than flying if you’re staying in the U.S., with a few exceptions for short distances. Internationally, high speed rail makes train travel a more enticing option.

Ground transportation within metro areas is another way to potentially save money while traveling. When available, subway, bus and light rail options may be cheaper than renting a car.

Travelers are particularly sensitive to the cost of overnight accomodations. According to a July 2022 survey, 68% of travelers say price is still the most important aspect when booking their lodging for a trip.[7]

Unfortunately, hotel room rates are up more than 50% year-over-year.[11] This doesn’t seem to be stopping many travelers though. Hotel occupancy is nearly back to pre-pandemic levels according to the American Hotel & Lodging Association.[12] As long as demand for lodging stays high, you should expect the average cost of vacation accommodations to remain elevated as well.

Hotel Costs

Traditional hotels remain the most popular form of overnight accommodations. Specifically, 52% of Americans who had upcoming travel plans expected to stay in a chain hotel according to a 2022 report.[7]

According to Hopper’s Q1 2023 Consumer Travel Index, hotel rates within the U.S. average $212 per night this year.[12] In addition to base rates, travelers now need to account for more incidental costs than ever before. More properties have added amenity fees (sometimes called resort fees or destination fees). These are typically disclosed during the check-out process but might not show up in preliminary search results. When comparing prices, make sure to look at total costs rather than base rates alone.

Vacation Rentals

Vacation rentals, such as those you’d book on Airbnb or Vrbo, can be a contentious topic—some travelers love them while others claim cleaning fees and expectations are extortionate. Based on a 2022 report, only 17% of travelers expected to stay in vacation rentals.[7]

When it comes to vacation rentals, the cost is all over the place. Average prices in the 50 largest U.S. markets range from $140-$790 per night.[13] Some markets have worse add-on Airbnb fees than others.

Travelers who stay in rentals instead of hotels tend to take longer trips, according to a Morning Consult report on the State of Travel and Hospitality and those extra nights lead to higher total costs.[7] Because of this, using targeted credit cards for vacation rentals can make a big difference.

If you’re not careful, the cost of food while traveling can sneak up on you. The average cost to eat breakfast, lunch and dinner at a U.S. restaurant rose to $104.26 per person per day.[4] For a family of four, that scales to $417.04 per day, though some cities are cheaper than others.

Those who consider dining to be a core part of the travel experience might find these numbers to be acceptable. On the other hand, there are ways to cut costs if you prefer to spend your travel budget on other things and are just looking to fill your stomach while away.

Given how expensive travel can be, you might be wondering why Americans continue to prioritize it. More than half of travelers (54%) say their primary reason to travel is to relax and 49% specifically expressed a desire to escape or get away.[7] Visiting family and friends is another common motivator, with roughly half of all travelers planning on including this type of travel in their plans.[1]

At least for now, Americans aren’t letting inflation or other financial concerns stop them from traveling. Almost 50% of U.S. adults claim they would look for less expensive options before outright canceling plans.[7] A survey by Forbes Advisor found that some potential cost-cutting considerations included traveling during the off-season (23%) or even looking for alternate destinations (21%).[1]

Often, though, Americans concede to revising their budgets upward. Certain demographics have a greater tendency to spend more on travel. A Forbes Advisor survey from January 2023 found that millennials had travel budgets of at least $6,000 annually.

Men are also more likely to spend at these higher levels, with 33% of male respondents planning to spend upwards of $6,000 compared to only 22% of women.[1] Ironically, women account for 54% of wealthy travelers with annual incomes of at least $250,000, according to the travel and tourism advertising agency MMGY Global.[14]

Since the average cost of a one-week vacation will typically run you thousands of dollars, planning for vacation expenses in advance is a must-do exercise. And while average numbers can give you a starting point, you’ll need to dig into the specifics to develop a meaningful budget.

When determining your potential vacation expenses, consider the following:

• Transportation modes: For some destinations, you might have the choice to drive or fly. Choosing how to get there will impact your bottom line (and may impact your enjoyment level as well).
• Activity costs: There are free things to do in nearly every destination, but realistically most travelers include paid attractions and tours in their plans.
• Splurges: Extra legroom on flights, five-star hotels and Michelin-starred restaurants are nice, but they all bump up your costs.
• Add-on fees: Don’t overlook extra charges such as checked bag fees, resort fees or automatic cruise gratuities.
• Surprises: Budgeting for the average cost of travel insurance is a lot easier than estimating charges for lost luggage, missed flight connections or medical mishaps.

As you plan and book your trip, keep a running list of actual expenses along the way. Not only will this help keep you on track for your current plans, but it will also help you determine how to budget for a vacation in the future. After a trip or two, you’ll have a better idea of what things cost which will make it easier to budget for future travel plans.

If the cost of a trip turns out to be more than you expected, you may be able to use rewards to help offset those expenses. The best airline credit cards earn frequent flyer miles with every purchase and build in other benefits, credits and freebies. If that seems too complicated, cash-back cards are useful too.

1. Forbes Advisor – Survey on Travel Plans for 2023
2. U.S. Travel Association: Travel Answer Sheet 2022
3. United States Department of Transportation: 2022 Annual Average Domestic Air Fares Increases from 2021
4. Business Travel News: Corporate Travel Index Calculator
5. Forbes Advisor – Most Affordable Cities for Family Vacations
6. FinanceBuzz: Survey on Remote Work Lifestyle
7. The Morning Consult: The State of Travel & Hospitality
8. Business Travel News: Corporate Travel Index Calculator
9. AAA: National Average Gas Prices
10. Greyhound Fares
11. Amtrak: Travel Guide to Train Fares
12. Media Hopper: Consumer Travel Index Q1 2023
13. American Hotel & Lodging Association: 2023 State of the Hotel Industry Report
14. See Transparent: US vacation rental rates: most expensive US markets in 2022
15. Afar: The Power of Women in Travel

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