Broke Americans aren't letting budget constraints stop them from having a great vacation.
Although 47% of Americans said they couldn't afford to go on vacation this year, 49% said they could. he is likely to travel anywayaccording to the 16th annual Allianz Partners USA Vacation Confidence Index.
It's part of a growing trend of travelers justifying spending money they don't have on vacations, calling them “justification vacations” or “justifications.”
Ryann Checchi, 32, will travel to Lisbon, Porto and Barcelona on Sunday, even though she can't afford the bill.
The PR professional said she felt justified in traveling despite her budget constraints because she “needed it, mentally more than anything else.”
“I needed something that would make me want to do something and that alone justifies my choice,” the Phoenix resident added. “I would rather have a limited budget for a month when I go home, if necessary, for a lifetime of memories with my friends and happiness.”
About 36% of American summer travelers said they were ready to get into debt to pay for a vacation, according to an April Bankrate survey. That's up from the previous month, when 27% of respondents said they would to get into debt to travel.
Social media fuels fear of missing out, feelings of “burnout” and U.S. politics are the main reasons vacationers are willing to throw financial caution to the wind, travel agent Nicole Cueto said.
“Given the political and electoral situation in the United States, people are taking this opportunity to explore other countries and see what other options are available to them,” Cueto said.
Without cash in the bank, travelers are relying on credit cards to fund their adventures, with the majority saying they plan to use a credit card to pay at least part of the bill, according to NerdWallet. Summer Travel Survey find.
But 20% of them “will not pay the full amount of their expenses on the first billing statement,” according to the survey from the end of July.
