According to the Sofinco Consumption and Daily Barometer, 60% of French have shortened their vacation plans to fit their budget due to rising prices.
While the intention to take vacations this summer remains stable (-2pts compared to 2022), the French have had to reconsider their habits to afford vacations in an inflationary context. The average anticipated budget has increased by 8% compared to last year, with the expected cost being 1,512 euros compared to 1,396 euros in July 2022. For households with children, the average budget is higher at 1,641 euros compared to 1,498 euros in 2022, representing a 9% increase.
As a result, more financial effort is required for 71% of French to go on vacation. One-fourth of them declare that they have reduced their transport budget (28%) or food budget (25%) to be able to go on vacation this summer. Among the 40% of French people who do not plan to leave this summer, more than half admit that they do not have the means (58%) and are waiting for last-minute offers to consider a stay this summer (40%) possibly.
52% of French People Revise Their Vacation Plans
Future vacationers plan shorter stays than in previous years to stay within their budget. Thus, 10% will go for less than a week (+2pts compared to 2022 and +5pts in 10 years), 36% will go for a week (+2pts compared to 2022 and +12pts in 10 years), and 32% will stay for two weeks (-4pts compared to 2022). Only 22% will stay for three weeks or more (stable compared to 2022). More than half of the French (52%) declare that the current economic situation encourages them to revise their vacation plans.
The proportion of French people who claim they limit the environmental impact of their vacations as much as possible has decreased by 7 points compared to 2022 (41%). And three-quarters of them do so as long as it does not increase their vacation budget. The vast majority believe that eco-friendly tourism is an effective solution for preserving the environment (72%, -3 pts compared to 2022), that it gives the feeling of being beneficial to society (70%, -4 pts), and of discovering new places (78%, -5 pts). But eco-friendly vacations are even more perceived as expensive by respondents (73%, +4 pts compared to 2022) and complicated to organize (60%, +5 pts).
Similar Trend in the United States
In the United States, the trend is similar. According to a study conducted by Bankrate, 80% of vacationers leaving this summer are adjusting their plans due to inflation. To fit their vacation budgets, Americans choose cheaper accommodations or destinations (29%), travel for fewer days (26%), travel a shorter distance (23%), choose to drive instead of flying (26%) or engage in less expensive activities (28%).
