5 Ways Americans Are Recession-Proofing Their Travel Plans

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Six out of 10 Americans are concerned about a recession affecting their travel plans, according to a recent study from Beach.com. Three-quarters of those polled expect travel costs to rise this year, and 72% said they will “adjust their travel habits” if a recession happens.

But that doesn’t necessarily mean canceling a trip. Instead, vacationers are planning ahead to enjoy their time off while spending less money.

Beach.com revealed the top five ways Americans are adjusting their travel plans to “recession-proof” their vacation, and experts shared tips on how to make the most of your trip while saving money.

Choose More Affordable Destinations

Nearly half (47%) of survey respondents said they are choosing a more affordable destination.

However, when comparing vacation destinations, make sure to factor in all costs. “Cheap flights don’t necessarily translate to a cheap city,” said Katy Nastro, travel expert at Going.

She cited New York City as a popular destination with cheap and frequent flights thanks to multiple area airports, but pricey hotels, food and attractions. She listed New Haven, Connecticut; Denver; and Tampa, Florida, as top destinations with cheap flights and “more affordability on the ground.”

Book Budget Accommodations

More than one-third (37%) of travelers are considering vacation rentals or hostels to find more affordable accommodations. But these choices may have drawbacks, according to experts.

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For instance, the price of meals if you’re cooking on premises, as well as the cost of ground transportation to get to area attractions, can add up. “If you have to take a taxi or Uber each time you want to go out, you might not save that much by staying farther away,” said Janelle Sallenave, chief spending officer at financial technology company Chime.

“Hotels are usually situated in the perfect locations for sightseeing, business meetings and, of course, the restaurants and bars,” added Laura Lindsay, global travel trends expert at Skyscanner. “In a hotel, all the amenities are at-hand, or just a phone call away. It’s that familiar feeling we love to have when we travel.”

While vacation rentals are now required by Federal Trade Commission rules to disclose any added costs, such as cleaning fees, read the fine print carefully to understand what you’re getting into. “Be mindful of cancellation policies, which can vary from rental to rental. You don’t want to book something that has a super-restrictive cancellation policy,” Nastro said.  

“With any option, it’s important to understand the complete pricing breakdown, potential fees or added fines, and payment plans to avoid any misunderstandings or last-minute cancellations,” agreed Harvest Hosts CEO Joel Holland.  

Take Fewer Vacations

Two in 5 travelers told Beach.com that their travel plans were affected by the current economy. For 35%, this means cutting back on the number of vacations planned. If you have only one vacation to make memories, you want to make them count.

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“Slowing down and being intentional with your plans can make a single vacation even more rewarding,” Sallenave said. “Start by choosing a destination that offers great experiences at a lower cost and then research the area to plan memorable experiences and activities.”

Nastro suggested booking a special activity on the last day of the vacation — especially if you’re traveling with kids. “They will likely have this memory freshest in their minds post-trip, and you can build up the activity earlier in the week, or adjust if needed due to weather,” she said.

Consider a multi-attraction pass, like Go City, available at Costco, to save money on tourist attractions. “Just be sure you are interested in the attractions offered to tour … It might make more sense to go a la carte for the attractions you really want,” Nastro explained.  

Travel During Off-Peak Seasons

It’s no secret that traveling during off-peak seasons can save money. And 34% of survey respondents said they were going to do just that.

“Embrace shoulder season,” Holland said. “Understanding seasonality is key to booking more affordable trips, finding hidden deals and enjoying a region on a budget. Booking just before or after a typical peak season can still usually reap the benefits of good weather or local events, without the costly price tag.”

“If your departure date is flexible, one of my biggest tips is to look for a midweek departure. Midweek is often cheaper for domestic flights, while Sunday departures are typically the most expensive. Not to mention you get to enjoy a destination without the crowds,” Sallenave said.

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Use Price-Tracking Tools for Hotels and Flights

Finally, experts agreed that price-tracking tools can help savvy travelers save a bundle — and 32% of survey respondents plan on using them.

Understanding the ins-and-outs of these services can help you find the best deals. “Price alerts are set it and forget it — they do the work for you, so it’s never too early to set them up,” Nastro said.

If you see a deal that looks like it’s too good to be true? “Book ASAP,” she said. “Recently we saw a mistake fare pop-up … I snagged the ticket because I knew I had that 24-hour [cancellation] rule in place when I booked direct if I wanted to change my mind. The price shot up within 30 minutes of the alert.”  

Sources

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