Here’s Why Your Vacation Is Costing So Much More This Summer

Here’s Why Your Vacation Is Costing So Much More This Summer

Suzanne Rowan Kelleher Forbes Staff I write about travel trends and news you can use. Follow Jun 14, 2022,12:18pm EDT

It’s not your imagination. Americans are spending significantly more for their summer vacations than they did in pre-pandemic 2019, as prices are soaring for every component of a trip — gas, airfare, hotels, restaurants and just about everything else.

Gas Prices. With average gas prices across the U.S. topping $5 a gallon, two-thirds (66%) of Americans now say rising gas prices will impact their decision to travel in the next six months, according the latest survey from the?Longwoods International tracking study.

Soaring Airfares Flying? Sky-high demand for travel, combined with higher fuel prices and a pilot shortage has created a perfect storm for jacked up airfares.?Prices have risen a staggering 47% since January, according to data from Adobe Analytics. According to the most recent Longwoods survey, more than a third of Americans (36%) say high airfares are likely to impact their decision to fly in 2022.

Pricier Hotels and Restaurants. The average daily hotel rate in the United States is now $147.35, up 11.3% from 2019, according to the latest report?from STR, a data analytics company for the hospitality industry. Dining out at restaurants costs 7.2% more than a year ago, according to?data from the U.S. Bureau of Labor Statistics. Interestingly, the cost of eating out has risen significantly less than the cost of eating in (11.9%), a data point that may make it easier to justify not cooking for yourself while on vacation.