PHILADELPHIA (KYW Newsradio) — Inflation has been cooling off, but a new survey found most holiday travelers are changing their plans due to rising costs.
Eighty-three percent of holiday travelers surveyed by Bankrate said costs are too high to do what they want this year.
“That’s a big number,” said Ted Rossman, Bankrate senior industry analyst. “It’s hard to get 83% to agree on anything.
“It goes to show that even as inflation has come down, it’s still a big deal. There’s a cumulative effect to higher prices that people have been paying the last few years for just about everything.”
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Nearly one-third of those surveyed plan to travel for fewer days, and 30% are selecting less expensive destinations and accommodations.
“Some are driving instead of flying,” Rossman said. “In other words, they still want to go on the holiday trip, but they’re willing to cut some corners to save money.”
Travelers are expected to spend an average of $925 for Thanksgiving and $1,165 for the December holidays.
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