The Average Cost of Travel Right Now
High gas prices and widespread inflation have impacted the way that many Americans viewed travel this summer, but a recent study conducted by travel insurtech company Squaremouth found the average trip cost has actually decreased overall compared to pandemic and pre-pandemic years. The average trip cost through early July was around $5,300 compared to $5,800 in 2020 and $6,000 in 2019. Additionally, data revealed that travelers paid less to vacation at some of the most popular destinations, with the average trip cost falling from $4,066 to $4,042.
However, the uncertainty of the economy is an influencing factor despite lower travel costs. “While there has been some relief with regards to pricing, I’ve noticed some continued hesitancy to book due to fuel prices and airfare,” travel agent John Maddox said. “Airfare is the number 1 deterrent that is holding back my all-inclusive resort business. It is also forcing clients to book shorter cruises. People are not as ready to book even into 2023 because of the uncertainty around the current economic situation.”
What’s keeping travelers from spending money at your destination? Make sure your decisions are informed by research. Schedule a free consultation today or send us an email at firstname.lastname@example.org.
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