OnePoll conducted a study on behalf of Outdoorsy that looked into inflation’s impact on Americans. The poll of 2000 Americans found that people couldn’t afford to go on vacation this year. About 56% of respondents didn’t think they could afford to go on vacation. Despite this, 58% were trying to save money for a trip. Moreover, 70% were planning a vacation despite the financial strain.
About 50% of the respondents had set aside an average of $1237 for their summer vacation. About 4 in 5 people admitted that inflation had impacted their plans. Another 72% admitted to using money from their vacation budget on other necessities.
Americans have had to reduce their spending
Americans have cut their spending by 33% to adjust to inflation. This has meant cutting out things like vacations (36%), entertainment (40%), and shopping (43%). However, 32% didn’t plan on cancelling their vacation altogether. They instead preferred to make more affordable plans. About 56% have successfully managed to arrange for a cheaper vacation.
How Americans are planning to make their vacations cheaper
Americans plan to spend less money on their trips by cutting back on clothing (39%), lodging (40%), and attractions (40%). Another way they plan to reduce spending on their vacations is by going on trips to places closer to home (58%). This move would help them reside travel costs.
However, there are parts of their vacations that respondents are unwilling to forgo. These include using their vehicles to travel (28%), going to free attractions (28%), and eating at restaurants (30%).
According to Outdoorsy’s CEO and co-founder, Jeff Cavins, many types of vacations now cost more because of inflation. Fortunately, the cost of renting an RV has been relatively similar. The price of staying in hotels, on the other hand, has increased by 40%. This makes road trips the cheapest vacation type, thus why many people are planning them.
About 52% of respondents prefer renting a vehicle for a road trip rather than using their own as it is cheaper. Furthermore, 49% would go for a car that is just as good as their own. Another 9 in 10 will rent a comfortable RV as they prefer to sleep in them rather than book hotels.
