Americans dealing with inflation appear to be searching for affordable travel alternatives this summer, and new research suggests "nearcations" may be the way many are going.
In a survey by the Austin RV rental outfit Outdoorsy, 58% of vacationers said they plan to stay closer to home to beat higher costs and rising gas prices. And half of them have a budget set up specifically for summer vacation, averaging $1,237.
The survey also found that 52% of vacationers planned to use rental vehicles to save money, with 9 in 10 preferring to rent something they can sleep in, rather than book a hotel. Outdoorsy was happy to point out that RV rental prices have seen only a .28% increase over the past year, compared to a 40% increase in hotel prices.
Photo: Outdoorsy
The survey also found that 1 in 3 Americans would rather scale back on vacation plans to fit a smaller budget than to skip a vacation entirely. And 56% said they've been successful at it. Still, 56% of Americans don't believe they can afford a vacation this year because of inflation. In fact, 72% have dipped into vacation savings to make ends meet elsewhere.
And although the survey's data shows vacationers plan to spend less on travel, attractions, lodging, and clothing, it seems some vacation items can't be given up. Three in 10 respondents said eating in restaurants was a vital part of vacationing.