56% of Americans do not think they can afford vacations this year due to inflation, survey reveals

70% of Outdoorsy respondents said they still plan to hit the road this year despite potential budget issues.

Photo: Outdoorsy / Courtesy

Outdoorsy’s new “Vacation on a Budget” survey found that Americans are looking for affordable travel alternatives this summer in the wake of inflation.

The research was conducted to gain a real-time perspective on the travel behaviors before this summer.

The survey found that 52% of travelers turn to rental cars on vacation to save money, and 9 out of 10 prefer to rent something they can easily sleep or stay in, rather than book a hotel. And 49% prefer to rent something as luxurious or cheap as what they have at home.

“While other types of vacations have seen dramatic cost increases over the past year in line with inflation, our average RV rental trip price only increased $5 over the past year, which is an increase of 0.28%said Jeff Cavins, co-founder and CEO of Outdoorsy. “Compare this to a 40% year-over-year increase in hotel prices, and you can see why we think road trips are more protected from inflation and also remain a vacation option”.

The “Vacation on a Budget” survey found that:

– Nearly 6 out of 10 respondents (58%) said they plan to vacation closer to home this summer to beat inflation and rising gasoline prices.

72% are dipping into vacation savings to make ends meet somewhere else.

– More than half of the 2,000 adults surveyed (56%) don’t think they can afford a vacation this year due to inflation.

– 58% have been saving and setting aside more money to keep your vacation hopes afloat.

– Almost the 70% said they still plan to hit the road this year despite possible budget problems.

– 50% of respondents have a budget set specifically for summer vacations, with an average of $1,237 dollars.

– 4 in 5 of those with summer travel budgets said their plans were affected by inflation.

– 1 in 3 said they would prefer to reduce vacation plans to fit a smaller budget than not having a vacation at all.

– 56% said they have been successful in planning a vacation with a smaller budget than usual.

– To save money, vacationers plan spend less on attractions (40%), lodging (40%) and clothing (39%).

– For Americans go out to restaurants (30%)visiting free attractions (28%) and traveling by car (28%) are vital activities to do regardless of budget.

– Respondents say they are most excited about traveling this year because will allow them to spend time with their families (57%)see new places (55%), make memories (55%), and get much-needed time for themselves (52%).

“Inflation is an ever present variable in the travel consumer sector. Travel trends are generally reflected in people’s spending habits,” said Cavins. “Having said that, the effect of inflation on RV travel will be minimal. For families, getting outdoors not only offers a more affordable alternative to other modes of travel, but time in nature can also be a more fun and educational experience.”

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