Americans Are Skipping Vacations To Pay For Essentials Because of Inflation

In this rear view, an unrecognizable woman stands with a shopping cart in front of a shelf full of food in the bread aisle of a grocery store.
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Americans are cutting back on spending this year and many say they can’t even afford a vacation because of inflation. According to a survey commissioned by Outdoorsy, an RV rental marketplace, 56% of Americans believe they can’t spend any extra cash on a getaway due to inflation, Talker News reports.

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Although many adults are less than hopeful, 58% have been setting aside money for a possible vacation and 70% are still planning to go on a trip. Talker News noted that about half have a budget set up, averaging $1,237, specifically for summer vacations.

“Inflation is an ever-present variable in the travel consumer sector. Travel trends are typically reflected in people’s spending habits,” said Jeff Cavins, co-founder and CEO of Outdoorsy, in a statement.

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Approximately 32% said they’re scaling back vacation spending and 56% said they were successful in planning a vacation with a restricted budget. To save money, Americans are planning to spend less on attractions (40%), lodging (40%) and clothing (39%). Fifty-eight percent said they plan to vacation closer to home this summer because of inflation and rising gas prices.

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To save even more money, 43% said they’ve also considered vacationing with a group of friends; however, going out to restaurants (30%), visiting free attractions (28%) and traveling by vehicle (28%) are “vital to have, no matter the budget.”

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“While other vacation types have seen dramatic rises in cost over the past year in line with inflation, our average RV rental trip price has only gone up $5 over last year, representing a .28% increase,” said Cavins. “Compare this to a 40% increase in hotel prices YoY, and you can see why we believe road trips are more insulated from inflation and also still a very affordable vacation option for those looking to keep their summer vacation plans intact.”

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About the Author

Josephine Nesbit is a freelance writer specializing in real estate and personal finance. She grew up in New England but is now based out of Ohio where she attended The Ohio State University and lives with her two toddlers and fiancé. Her work has appeared in print and online publications such as Fox Business and Scotsman Guide.

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