Despite skyrocketing costs on everything from gas to hotel stays, experts predict this could be the busiest holiday travel season since 2019. It'll just look a little bit different, according to Bankrate senior industry analyst Ted Rossman.
In a new report released Monday, Bankrate found inflation is forcing 77% of Americans to change their holiday travel plans, with 16% worried they might go into debt just to pay for it all.Consumer prices in September rose nearly 3.7% from a year earlier. While still high, inflation is slowing, and Rossman points out that air travel is actually helping as ticket prices and cancellations fall.
That means Americans are shaking up traditional holiday travel, with 27% telling Bankrate they're opting for a road trip instead of flying this year. About 1 in 4 said they plan to cut back on trips altogether.