According to Longwoods International, a leading travel and tourism research consultancy, 57% of American travelers say inflation will affect their travel plans. Another 39% already changed their fall plans due to extreme weather.
Soaring prices and unpredictable storms are rapidly changing travel for the rest of 2024, and it’s a stark reminder that travelers need more than just a suitcase. They need a strategy.
Travel Increases Despite Cost and Weather
According to Longwoods, the percentage of travelers who say inflation will greatly impact their travel decisions in the next six months jumped from 24% in July to 30% in August.
While extreme weather conditions and high inflation heavily affect this year’s fall travel plans, that doesn’t mean people are traveling less — quite the opposite.
While the average fall trip will cost Americans an additional 36% this year over last year, Longwoods found travelers will reallocate budgets to afford travel plans; the average trip cost went from $5,907 in 2023 to $8,056 this travel season. However, while inflation remains a significant concern despite recent drops in airfare and gas prices, travelers are not deterred — they simply make adjustments.
Travel insurance marketplace Squaremouth reports fall travel is up 8%, and Italy is this year’s top destination. But many are sticking closer to home.
Alexandra Caspero of Delish Knowledge says, “We’re driving down to the Arkansas Ozarks for camping and hiking. This vacation will cost us almost nothing as we drive, and the campground is only $20 a night. We’ll spend the weekend wandering along the river, hiking in the mountains, and enjoying nature. A long weekend away for probably less than $250 total for the four of us.”
Camping, hiking, or lounging at the beach can be affordable options. While extreme weather can still affect these excursions, they’re often cheaper than inland destinations with expensive hotels or resorts.
Caspero also suggests any traveler flying to their destination use points to buy airline tickets and research the cheapest flights.
Who Is Traveling, and Where Are They Going?
While Italy is the top travel destination this fall, the remaining top destinations outside of the U.S. are Mexico (5.71%), Great Britain (4.90%), Spain (4.32%), and France (4.17%).
According to Squaremouth, almost half of all travelers (47%) are baby boomers. But while boomers will do most of the traveling this year, they aren’t the only ones pursuing vacation time. Gen X will make up 17% of all travelers in 2024. Millennials will comprise 14%, the Silent Generation will make up 13%, and Gen Z, just 8%.
So How Are People Managing Travel Costs Right Now?
Staying closer to home helps with cost and makes it easier to monitor the weather. According to a Forbes Advisor survey, 36% of vacationers plan to spend their time off at a beach in 2024, while 26% of travelers plan to go camping.
Nerd Wallet found that 42% of people surveyed save money by driving to their destinations, and 39% have chosen hotels and resorts based on price instead of amenities.
“We had plans to travel through San Francisco International Airport (SFO) this October but we had to change our plans to Colorado due to the cost,” explains Anika Jindal of What Anika Says.
“Firstly, flights to SFO were way too expensive. It was about $400 per person from Houston, which adds up fast for a family of three. Then when we started looking at accommodations, rental cars, and things we wanted to explore there, it added up to several thousands more for a 5-day trip. So we decided to look for a cheaper destination instead and decided on Colorado.”
Don’t Stay Home
While most travelers are making changes to their 2024 travel plans, it’s safe to say that most refuse to stay home. But with a little precaution and planning, getting away from work for time off is something many can achieve. Setting a budget, sticking to it, and keeping a watchful eye on the weather reports will go a long way to helping people enjoy vacations this year.
