Here’s how Americans are downgrading their summer holidays because of inflation

S.Extremely high inflation in the travel sector is affecting summer vacation plans, according to multiple studies that show American Airlines is making travel trade-offs to keep costs down.

Travel costs are up nearly 16% compared to pre-pandemic 2019, according to the latest Travel Price Index from the American Travel Association. The index tracks changes over time in average prices for transportation (up 30%), lodging (up 10%), recreation (up 5%) and food and beverages (up 14%).

According to recent data from trading site Hopper, domestic airfare is now about 14% above 2019 prices, at $354 for a round trip. International airfare is about the same as in 2019, at $861 round trip.

According to the latest wave of follow-up surveys from Longwoods International conducted in mid-April, more than half (53%) of U.S. travelers say transportation costs will affect their travel plans over the next six months. increase. Relatively few respondents said their personal financial situation (46%) or the Covid-19 pandemic (38%) influenced their travel decisions.

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Rising gasoline prices are at the center of the minds of American travelers. According to a Longwoods International survey, only one in five Americans (19%) said rising gas prices had not affected their travel plans. Two-thirds of his travelers say petrol prices will influence their travel decisions in the next six months, with more than one-third (37%) having a ‘significant impact’ on their plans. said. A third (36%) of travelers said they would choose destinations closer to home, and about a quarter (26%) said they would cut back on entertainment and recreation.

To combat rising transportation costs, Longwoods International says travelers are taking fewer trips and cutting spending on all other elements of travel, from lodging to dining, shopping, entertainment and recreation. discovered. Other coping strategies include driving a car rather than taking a plane on a trip.

Another recent travel study paints a similar picture of travelers making tough choices to keep costs down. According to a recent Bankrate survey, nearly 7 of her 10 American adults (69%) who are planning a summer vacation this year say they are changing their plans because of inflation. To compensate for higher prices across the board, 25% of travelers said they would make fewer trips and 25% would choose destinations closer to home. Other tactics include doing cheaper activities (23%) and choosing cheaper places to stay (22%).