Destination Dupes and Dream Trips: How Americans Are Redefining Travel in the Age of Rising Costs with Bank of America's Mary Hines Droesch

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 3 July 2025

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Are Americans sacrificing their financial future for Instagram-worthy experiences? Not quite. In this episode, Mary Hines Droesch, head of Consumer, Small Business & Wealth Management Banking at Bank of America reveals surprising data about how consumers are navigating the tension between rising living costs and their desire to travel and attend live events. You'll discover: Why 74% of Americans still plan summer vacations despite inflation How "destination dupes" are changing the travel landscape The real reason people are choosing road trips over flights (hint: it's not just about money) Why concerts and sporting events have become travel destinations Whether Americans are going into debt to fund their wanderlust Smart strategies for reverse budgeting your next trip You'll walk away learning: The shift from goods to experiences isn't just a trend—it's a fundamental change in how we value money Social media is driving the "escapism economy" more than we realize Americans are proving to be surprisingly resilient and responsible with their finances The rise of "experiential gifts" is changing how families think about spending Whether you're trying to plan your next vacation on a budget or wondering if your travel spending is getting out of hand, this episode offers practical insights backed by real consumer data. Be sure to keep with with Everyone's Talkin' Money by following us on Instagram @everyonestalkinmoney Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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