School is finally over and Summer has begun! The same thing is on everyone's mind, vacation!
Statistics show that only 45% of Americans take a summer vacation. Yet entrepreneur.com states, "traveling generates a whooping $2.1 trillion in economic activity." Which is a lot!
So, how much do you spend on average when traveling? More then you plan to? Here is a list of what to factor in when planning your next vacation. So the next time you travel you're not surprised by how much you have spent.
What to consider when planning a trip:
The U.S. Bureau of Labor Statistics writes that the “largest travel expense was for transportation, which represented 44 percent of the total amount spent.”
Here’s a breakdown of the annual vacation transportation costs spent on travel.
- Airline - $3,304
- Buses between cities - $252
- Trains between cities - $521
- Local transportation on out-of-town trips - $202
- Taxis/car service on out-of-town trips - $119
- Ships - $2,456
- Gas for out-of-town trips - $669
- Parking for out-of-town trips - $172
- Tolls for out-of-town trips - $71
The average lodging cost per trip is around $150 per night. Again, depending on where you’re staying and when you’re traveling that cost can fluctuate. You can also cut down your lodging costs by not traveling on the weekends or during holidays.
Food and Drink
We spend on average $33 on food per day. One way to save is to find hotels with a breakfast included.
Domestically, we spend roughly $52 and $293 internationally for entertainment. This includes any activities such, as sporting events. museums, theme parks, or shows.
A cost that is often overlooked. You can't get around taxes but it is something to factor in when calculating expenses.
When taking a vacation, planning is important. You don't want to be blindsided by the cost of your vacation. Start planning your trip early, this will allow you to save money and book in advance for a cheaper price.
Make sure to think of these factors when planning your next trip!