Philly-area residents find ways to cut costs on summer vacations.

As summer approaches, a significant number of American families are re-evaluating their vacation plans due to rising costs and economic uncertainties. Traditionally, families allocate between ,000 and ,000 for summer getaways, visiting popular destinations such as Pigeon Forge, Tennessee, or Lake Wallenpaupack in Pennsylvania. However, this year, many are opting for more modest alternatives. One such example is the Schleigh family from Lansdowne, who have decided to change their travel plans, limiting themselves to a weekend trip to Altoona, Pennsylvania.

With inflation affecting everyday expenses, the Schleighs found it challenging to justify a weeklong vacation. They secured an Airbnb for 0 and purchased discounted tickets to a local theme park, DelGrosso’s, instead. They are among a growing segment of U.S. consumers who reported a desire to scale back their travel plans, according to a recent Deloitte survey.

A nationwide poll conducted by Bankrate revealed that fewer than half of American adults intend to travel this summer, with 65% of those forgoing trips due to financial constraints. The survey highlighted that the issue lies not only in the expenses associated with travel but in increased daily living costs that affect household budgets.

Recent reports have further underscored the adverse effects of stock market volatility and low consumer confidence on tourism hotspots across the country. Business owners in popular vacation areas such as the Outer Banks and the Ozarks remain cautiously optimistic, hoping for increased domestic travel as surveys indicate a preference for local destinations over international travel.

In response to rising costs, families like the Thomases are making difficult choices. The couple, who previously traveled to destinations like St. Lucia and Puerto Rico, is now planning a family trip to Ocean City, Maryland, opting to spend less than half of their usual travel budget. The financial burden of maintaining everyday expenses often prompts them to reconsider their vacation plans.

Travel trends indicate a shift towards last-minute bookings, as consumers adopt a wait-and-see approach amid the economic climate. Travel agents report an increase in last-minute requests, a departure from the traditional practice of booking trips months in advance. Clients express hesitation to spend money they perceive as non-essential, highlighting a growing sense of financial prudence.

For those still considering travel, experts suggest identifying non-negotiable vacation elements and being flexible with plans to secure better deals. It remains an opportune time for individuals seeking holidays, as fluctuating demand can lead to advantageous last-minute offers. Adeptly navigating the current landscape may allow families to enjoy summer vacations while remaining mindful of their financial health.

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