Experian Data Finds Travel Plans Take Off Despite Costs, Many Willing to Take on Debt

Business Wire

Despite rising travel costs and ongoing economic pressure, many consumers are still making travel plans. New data from a national Experian consumer survey shows that consumers continue to prioritize summer getaways and experiences, even if it means going into debt.

Roughly 33% of consumers already have booked travel for the next year, even as 67% say travel is less affordable than it was a year ago. More than a third (36%) say they are willing to go into debt in order to travel, especially to big ticket events. This dynamic underscores the importance of finding ways to budget, manage expenses and make the most of available financial tools, areas where Experian can help turn travel plans into reality.

The data highlights how travelers are attempting to balance rising costs with their desire to travel as they plan their vacation spending. Additional key findings include:

A majority (79%) of respondents would consider financing big events so they can attend.
39% of consumers say event ticket prices are their biggest cost concern.
36% are willing to go into debt in order to travel.

Don’t burn your finances this summer

As travel demand remains resilient, these findings point to a growing need for tools and strategies that help consumers manage costs without putting long-term financial health at risk.

“Travel remains a top priority for many consumers, even as they navigate higher costs and ongoing financial pressures,” said Rod Griffin, Senior Director of Consumer Education and Advocacy for Experian. “As consumers look for ways to make travel more affordable, there’s a growing need to be strategic. Experian is here to help, providing the tools and insights consumers need to manage costs, maximize their spending and stay on track toward their financial goals.”

As travelers look for ways to make their dollars go further, there are a variety of Experian tools and resources consumers can take advantage of to help:

Experian’s Credit Card Marketplaceⁱ helps Experian members compare credit card offers matched to their credit profiles. Whether looking to earn points for future travel, access other credit card rewards or take advantage of better interest rates, consumers can explore options, like travel credit cards, that are tailored to their financial goals.
Experian’s No Ding Declineⁱⁱ feature allows Experian members to apply to credit card offers without the risk of a hard inquiry impacting their credit scores if they’re not initially approved.
EVA, the Experian Virtual Assistant™, can help Experian members analyze their spending, find options to help them save and recommend financial products that fit their financial profile.
Experian’s bill negotiation and subscription cancellationⁱⁱⁱ features can identify and could help cut the costs of certain recurring bills and subscriptions.

As a trusted financial copilot, Experian empowers consumers to navigate financial decisions with confidence, whether planning a trip, managing everyday expenses or building long-term financial health through its leading consumer platform.

To explore credit card offers and other financial resources, visit www.Experian.com.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and platforms. We also assist millions of people to realise their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

ⁱResults will vary. Based on FICO^® Score 8 model. Offers and approval not guaranteed. Eligibility requirements and terms apply. Application is subject to a credit check, which may impact your credit scores. Offers not available in all states. Marketplace licenses and disclosures.

ⁱⁱApplying for cards labeled No Ding Decline™ won’t hurt your credit scores if you aren’t initially approved. Initial approval of your application will result in a hard inquiry, even if you’re unable to pass final verifications, which may impact your credit scores.

ⁱⁱⁱResults will vary. Not all bills or subscriptions are eligible for negotiation/cancellation. Savings are not guaranteed, and some may not see any savings. Available with eligible paid memberships and requires connecting payment account(s) to Experian account.