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Inflation causing travelers to cut back on vacation plans

Vacationing closer to home to save
Posted at 8:47 AM, Apr 28, 2022
and last updated 2022-04-28 11:19:56-04

BALTIMORE — The weather is getting warmer and many families are thinking about their summer vacation plans.

With the cost of just about everything going up, inflation is putting a damper on vacation planning.

The desire and demand to get away is high, and so is the cost of travel this year.

People trying to book summer vacation plans are facing sticker shock. It has people rethinking what to do this summer.

Whether the idea of the perfect vacation is flying off to an exotic location, exploring the outdoors, or visiting a world class city, the cost of traveling in 2022 is going to cost a lot more this year than last year.

Prices of airfare, hotels, and rental cars have gotten so high that the website Bankrate found seven out of ten people are changing their plans because of inflation.

Bankrate found 25 percent of the people surveyed, said they would take fewer trips and travel shorter distances.

More than 20 percent said they would look for cheaper accommodations and plan cheaper activities.

Many others said they would take shorter vacations, and drive instead of flying.

However, the price of gas is still high, so depending upon whether people are traveling as a couple or by themselves versus with a large family, and how far they plan to travel, flying could be cheaper than driving for some.

According to the travel site Hopper, the average price of a good deal on a roundtrip plane ticket is about 360 -- which is 100 dollars more than it was a year ago.

Bankrate also found people aged 18 to 25 are more than 70 percent likely to travel this summer.

Families with kids under 18 are 75 percent more likely to still travel this summer, compared to adults without kids who are only about 55 percent more likely to go ahead with their travel plans.

Overall, 50 percent of the people Bankrate surveyed said they are skipping a vacation all together this year and not traveling at all because they just can't afford it.

For those who are still planning to take a vacation, Bankrate found the top three destinations are a trip to the beach, a staycation at home, or a trip to a city.