Survey: Americans to spend less on vacations this Summer

(CNN)– On the first day of Summer, consumers say they are planning to spend less on away-from-home entertainment and vacations this year.

That’s according to the 2024 KPMG Consumer Pulse survey.

It’s a contrast to last Summer when Americans shelled out big bucks on the “Barbenheimer” movie phenomenon, Taylor Swift and Beyonce concert tickets and getaways.

The survey found on average, Americans expect to reduce their motherly spending on dining out by 9%, by 8% for entertainment and media, and by 7% on travel and vacations.