In a sign of the cautious economic recovery, a few more Americans will be traveling with their families this summer.

Just 51% of 2,000 adults surveyed last month are planning summer vacation travel, up from 49% in 2009 – the year of the recession-induced “staycation.” That matches industry projections of a modest 2% increase in 2010 leisure travel, according to the U.S. Travel Association.

But many of us will be opening our wallets a lot wider for vacation trips, because of a 22%projected increase in air fares. The American Express survey says 29% of those taking vacation trips plan to spend more this summer than last; 39% say they will spend about the same, with the average family of four shelling out $4,000.

The hassle factor is likely to rise as well. Airlines have reduced capacity, so flights will be jammed. European travel plans may have slowed a bit, with threats of strikes and volcanic ash still snarling air traffic in some areas there. The AmEx survey shows 47% of travelers will be staying in the U.S. this summer, up from 42% last year. My stepson and his family, who live in Europe, won’t be making their usual summertime flight to the U.S., partly because of soaring ticket prices.

Heeding my colleague Scott McCartney’s advice to buy summer plane tickets early, I booked flights last week to gather with my kids and stepkids and their dad in Chicago over the July 4 weekend. I emerged with sticker shock and a credit card bill well into four figures

Summer travel is always a budget-buster in our family. I often throw my savings plans out the window for family trips, rationalizing the cost by telling myself that we are making memories. It took me a couple of years to pay off a 2003 trip to Hawaii, for example, but my kids still talk about it. And while our big Midwestern family reunion last summer had many of us spending thousands of dollars to travel there from six states, Europe and South America, it was clear that all involved felt it was worth it.

Readers, how much will you shell out for summer travel this year? Will you be trying to economize? Is spending on vacations just like any other budget item for you, or do you stretch a little more for family fun? Does the importance of time off together warrant splurging? Do you feel you “deserve” a more luxurious vacation if you have had a hard year at work? Or do you always try to economize?