As summer approaches, many of us are dreaming about our next vacation. But with prices escalating, it’s hard not to wonder if we can even afford to get away anymore. Let’s take a look at what’s happening with vacation costs, especially for people here in North Carolina.
Lately, inflation has been hitting everyone hard, and unfortunately, it’s been affecting our vacation plans too. The travel price index in the U.S. went up by 2.7% according to research by the Statista Research Department. At first, it might not sound like much. However, it adds up when you’re planning an entire trip. To put it in perspective, if you take a week-long trip somewhere in Europe with a few people, you’ll probably spend around $10,000. This year, that same trip would cost an extra $270 on average. Not to mention, the cost of a flight alone has shot up, too.
Airline fares saw the biggest jump, increasing by 7.1% compared to last year. That can be a big deal if you are thinking about flying somewhere for your vacation. Hotel room rates have also been climbing ever since the pandemic hit. Since then, the average cost of a hotel room has gone up by about 10%. This is partly due to the fact that people now want to travel more often since they don’t have the risk of contracting Covid-19 as easily, as well as inflation.
Here in North Carolina, we’re feeling these changes too. However, we have cheaper options such as Jordan Lake, beaches, and other public state parks, which could make them a popular option this year.
As bad as it may seem, there is good news for the future. Some things are getting cheaper or at least not as expensive as you might think. Flights to some places, such as Asia and the Caribbean, are actually cheaper than last year according to a report by online booking platform Kayak.
If you’re worried about costs, there are some options and things to consider when traveling. You could consider a road trip instead of flying. A road trip could be seen as part of the vacation, and you would save money in the process. When booking a hotel or looking for a place to stay, try to find places with a small kitchen so you can cook some meals instead of eating out all the time. And lastly, plan ahead and always look for good deals. Sometimes booking early on a hotel or a flight could save you a lot of money.
So, is vacationing too expensive? It’s evident that it’s getting pricier, but with some smart planning, you can still have an awesome trip without emptying your wallet. Just remember to budget carefully and be flexible with your plans.
