""Okay, well, I guess we're not doing that anymore," Woodbury said. "We'll just go once a year, it'll be fine.""
""The hotel rooms are profoundly more expensive than they were before the pandemic," she said. "And it's just amazing how fast it's gone up.""
""Things are a little tighter this year," said Lorraine Sileo, a senior analyst at Phocuswright, a market research company."
Travel costs have risen about 20% since August 2019, driven by sharp increases in gas, lodging, and recreation prices. Airfares climbed more slowly while restaurant food and beverage costs jumped over 30%. Rising housing, grocery, and power expenses have reduced discretionary income for many households, leaving less money for travel. Families are cutting back on trips and shortening vacation frequency because of higher ticket, hotel, gas, and dining costs. Market analysts report tighter household budgets this year, prompting consumers to re-evaluate discretionary spending and prioritize essential expenses.
Read at www.npr.org
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