As the long lines in jam-packed airports and holiday traffic so clearly indicate, Houstonians love to get away. So much so that a new report lists us as No. 4 in cities spending the most on travel in the U.S.
The study comes courtesy of Trim, a new company that has taken off with its smart and “holistic” personal finance assistant. The travel survey is based on the more than 500 million transactions by Trim’s users. The data finds that Houston residents spend an average of $2,072.05 a year on travel.
According to research, the top three U.S. cities where residents shell out the most for travel annually are Los Angeles at No. 1 ($3, 397.54), San Francisco at No. 2 ($3,161.95), and Seattle at No. 3 ($2,605.42). New York follows No. 4 Houston with $1,954.27 spent per year.
The Trim study is based on data from April 2017 to April 2018. Travel spending is defined as spending in the following categories: airlines, bus and train stations, car and truck rental, cruises, and lodging ranging from motels to resorts.
The study notes seven out of 10 Americans spent some amount of money on travel in the last year, with 56 percent spent on hotels, 44 percent spent on airfare, 22 percent spent on car rental, and 2 percent spent on cruises. Trim’s report also lists travel spending by age, noting that Americans between the ages of 35 and 44 spend the most per year:
- 18 to 24: $620.39
- 25 to 34: $970.20
- 35 to 44: $1298.14
- 45 to 54: $1236.90
- 55 to 64: $1264.55
Hardly a news flash to anyone who plunks down their credit card for much-needed trips: Individuals with higher income and better credit spend more on travel. Americans making more $150,000 per year or more spend an average of $3,284.14 on travel — compared to Americans making $50,000 to $70,000 per year, who spend an average of $628.32 a year to relieve their travel itch.