According to a recent survey by Bankrate, a significant majority of holiday travelers in the US are making changes to their vacation plans in an effort to save money. With inflation taking a toll on savings and increasing debt, travelers are looking for ways to cut costs without sacrificing the joy of the holidays. Uncover How Holiday Travelers are Adapting in the Face of Inflation
Shortening Trips to Save
In the Bankrate Oct. 21 survey, 32% of respondents revealed their plans to shorten their trips. This shows that travelers are becoming more conscious of their expenses and are willing to make sacrifices in order to save money. By reducing the duration of their vacations, they can cut down on accommodation and activity costs, making their holidays more affordable.For example, a family that usually takes a week-long vacation might now consider a shorter trip of just a few days. This not only helps them save money but also allows them to enjoy the holiday spirit in a more focused manner.
Choosing Different Modes of Travel
The survey also found that 28% of travelers are opting to drive instead of flying, while 23% are flying instead of driving. This shift in travel preferences is likely due to the rising costs of air travel and the desire to find more cost-effective options.Driving can be a more economical choice, especially for shorter distances. It allows travelers to avoid the high costs of airline tickets and baggage fees. On the other hand, flying can still be a viable option for longer distances, especially if they can find good deals on flights.
Selecting Cheaper Accommodations and Activities
Another way that holiday travelers are saving money is by choosing less expensive accommodations and activities. 32% of respondents said they are opting for cheaper options, such as staying in budget hotels or vacation rentals instead of luxury resorts.Similarly, 25% are picking cheaper activities like visiting free museums or going on nature hikes instead of expensive theme park visits. These small changes in travel choices can add up to significant savings over the course of a holiday.Despite some travelers' plans to cut costs, 17% of the survey's respondents indicated that inflation has not changed their holiday travels. This shows that there are still some who are willing to spend money on their vacations despite the economic challenges.To read Bankrate's full survey, click here. Share your holiday travel plans in our poll below for a chance to be featured in an upcoming story.
