Don’t give up on your summer travel plans because of inflation. There are ways to rework your plans on a budget.
While summer vacation plans may not have topped the list for the past two years – and rightly so, given the state of the world – you may have hoped that this year would be a little different. However, with the way travel costs have ballooned, sources are predicting it may just be a local summer after all.
Compared to 2021, where people were still spending a lot of time at home with little travel, let alone travel, everything may seem more expensive. From gas to groceries, we have indeed felt the pressure, but let’s be clear: travel also plays a major role in inflation. In fact, according to Bankrate, travel costs have reached record highs, which is actually not so surprising considering all the causes. After calculating the stagnation of the last two years, as well as the revenues the economy needed to recover, yes, inflation is real and happening. But what does it mean when prices are even higher than they were before the pandemic?
Looking specifically at airfares, the average cost of a round-trip domestic flight as of April 17, 2022 was $358 on Hopper. This price is about $100 more than the average in 2021. As for pre-pandemic rates, the average cost on April 17, 2018 was $320, so an increase of more than 10% still happened. produced. In addition to flights, other important means of transport, such as car rental and accommodation options, have also exploded. According to the US Bureau of Labor Statistics, car and truck rentals in the average US city are currently about 40% more expensive than the previous 10-year average. According to February 2022 data, prices are up 24% since the same month in 2021 and 38.6% since February 2020.
Accommodation options have also peaked while amenities such as housekeeping and room service have either disappeared or are now charged extra. In general, in July 2021, accommodation prices increased by 47%, reaching their highest level in the consumer price index. Even in 2022, they are still at record highs.
Despite this game of ups and downs, we don’t want you to completely cancel your hobbies and travel plans. Vacations play a huge role in unplugging and can be seen as essential in preventing burnout. To keep your destination plans moving, we suggest reworking your vision for discounted packages for certain times of the year and using credit card benefits. Below are all of our suggestions for a successful trip amid inflation.
Credit Card Reward Benefits
It’s always a good idea to sign up for travel-friendly credit cards if you travel frequently, but it’s now a good idea for anyone planning to travel in 2022. When you sign up for a new credit card suitable for travel, most of the time you receive benefits, bonuses, rewards and points. Make a habit of starting to track where you’re spending to receive points for your vacation so you can worry less about inflation and focus more on having fun.
Pay as you go
Pay-as-you-go options like Affirm have seen a lot of success since 2020, and inflation is a big reason why. With higher prices and perhaps even slower checkouts for some, the wisest way to make travel an option for the summer might be through payment plans. Before booking a vacation destination, make sure your flight, hotel, or package offers pay-as-you-go options. Prepare for all-inclusive trips that include food and drink months in advance, with pay-as-you-go options in mind so you’re likely to be less affected by price inflation at the time. where your trip appears.
Packages, offers and discounts
Besides Groupon, there are several websites that offer great deals and discounts on excursions, tours, wellness, and restaurants based on the city you’re in, and CityPass is one of them. Take a look at these websites to see where to find the most travel-friendly packages and build your itinerary based on amazing offers, discounts and rewards that fit your travel budget.
Noel Cymone Walker is a New York-based writer specializing in beauty, fashion, music, travel, and cultural anthropology. She has written and produced visuals for several notable publications such as The Recording Academy/The Grammys, The Fader, Billboard, OkayPlayer, Marie Claire, Glamour, Allure, Essence, Ebony, and more.
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Inflation hindering your travel plans in 2022? Here’s how to save appeared first on TheGrio.