High rates of inflation are forcing Americans to change their summer travel plans according to a March 2022 survey by Bankrate.
In the survey, 69 percent of respondents said they changed travel plans due to rising costs. While 25 percent have decided to take fewer trips or travel a shorter distance, 23 percent are engaging in cheaper activities, 22 percent are picking cheaper destinations or lodging, 19 percent are traveling for fewer days, 16 percent are driving instead of flying, and 13 percent are flying instead of driving.
According to the Hopper Price Tracker, a “good deal” round trip domestic flight on May 1, 2022, cost $384.48, which is over 47 percent higher than the $260.78 “good deal” airfare on May 1, 2021. It is also the highest airfare recorded on the price tracker since 2018.
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