Discover Survey Finds 71 Percent of Consumers Are Planning To Travel This Summer, Up From 58 Percent Last Year

Micro vacations and trips planned with shorter notice are on trend
for 2019

RIVERWOODS, Ill.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/CreditCard?src=hash” target=”_blank”gt;#CreditCardlt;/agt;–More Americans will pack their bags for a summer vacation this year, but
most are keeping their trips short, according to a new national survey
from Discover. The survey found 71 percent of consumers plan to take a
vacation this summer (from May through September), compared to just 58
percent in 2018.

The survey found that most consumers plan to take micro vacations
(shorter trips of one to three days) this summer. Fifty-five percent of
respondents said their summer trips will last one to three days,
compared to 21 percent who said four to six days, 12 percent who said
one week, 6 percent who said 8 to 13 days and 5 percent who said their
trip will last two weeks or more.

In addition, consumers are planning their summer vacations with
relatively shorter notice. Forty-six percent of respondents said they
plan their trips three months or less in advance, compared to 26 percent
who said four to six months, 11 percent who said seven to nine months,
10 percent who said 10 to 12 months and 8 percent who said more than one
year in advance.

Younger Generations Travel Differently

While more consumers plan to travel overall, younger generations are
more likely to take a vacation this summer than older generations, as 77
percent of Gen Z and 76 percent of millennials are planning summer
trips, compared to 67 percent of baby boomers and 60 percent of the
Silent Generation.

When it comes to accommodations, younger generations, 21 percent of Gen
Z and 16 percent of millennials, are more open to staying in home
rentals compared to other generations, 8 percent of baby boomers and 5
percent of the Silent Generation.

Younger generations also have different priorities about what they want
most out of their vacations. Twenty-five percent of Gen Z and 25 percent
of millennials are looking to spend time with their friends and family,
while 41 percent of baby boomers want to relax on their trips.

Younger consumers are also most likely to splurge on activities while on
vacation (36 percent of millennials and 30 percent of Gen Z), whereas
older consumers said they would rather splurge on food and dining (43
percent of the Silent Generation and 37 percent of baby boomers).

Consumers Prefer to Use Credit Cards When Traveling

Credit cards are the leading form of payment while on vacation, with 39
percent saying they prefer to use their credit card to other forms of
payment when traveling.

More consumers plan to cash in credit card points for their summer
vacations, as 18 percent will use points entirely to pay for their
trips, up from 13 percent in 2018. Younger generations are more likely
to use points for their vacations than older generations – 38 percent of
millennials and 35 percent of Gen Z, compared to 28 percent of Gen X, 18
percent of baby boomers and 15 percent of the Silent Generation.

There is a knowledge gap when it comes to booking trips with points, as
41 percent of consumers feel they do not know what they are doing when
they book trips with credit card points. When asked how they feel about
doing so, 29 percent of Gen X and 27 percent of millennials said they
feel restricted in their ability to book because points dictate their
airline and hotel choices.

“The core value of a travel credit card should be simplicity, especially
in earning rewards while traveling, or redeeming your rewards to take a
road trip or fly cross-country to visit family and friends,” said Laks
Vasudevan, vice president of card programs, strategy and marketing at
Discover. “That’s why our Discover it^® Miles card offers a
simple rewards structure – 1.5x Miles on every dollar spent on
purchases. Plus no airline restrictions or blackout dates. You can
easily redeem Miles as a statement credit for travel purchases, all
without an annual fee¹.”

For more information about the Discover it^® Miles card, go to
www.discover.com/credit-cards/travel.

About the Survey

All figures, unless otherwise stated, are from a survey that was
conducted by YouGov Plc, on behalf of Discover Financial Services. The
survey was conducted online from May 7^th – May 10^th,
2019, with a total sample size of 2,536 US adults (18+). The maximum
margin of sampling error was ±1.95 percentage points with a 95 percent
level of confidence. The PEW definition of generational breaks were used
when examining the data: Gen Z (22 and under) millennials (23-38), Gen X
(39-54), baby boomers (55-73), and the Silent Generation (74+).

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America’s cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Global Network comprised of Discover
Network, with millions of merchant and cash access locations; PULSE, one
of the nation’s leading ATM/debit networks; and Diners Club
International, a global payments network with acceptance around the
world. For more information, visit www.discover.com/company.

¹ Discover it® Miles: 0% intro APR on purchases for 14 months
and 10.99% intro APR for balance transfers for 14 months, then
variable 14.24% – 25.24%. Cash advance APR variable 27.24%. Pricing is
subject to change. Call 1-800-Discover or visit Discover.com/travel for
details about credit costs & terms.

Contacts

Media Contact
Derek Cuculich
224-405-0665
[email protected]
@Discover_News