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Gas prices: 62% of Americans plan to vacation, most driving domestically: Survey

·Markets Reporter
·1-min read

More than 60% of Americans plan to take a vacation this summer, but most will do so domestically, according to a Yahoo/Maru Public Opinion Survey.

The study of 1,509 adults found that two-thirds, or 62% of respondents, plan to take a vacation between now and September 1, while 38% said they won’t.

A vast 84% of those planning to take a break will do so within the United States as opposed to 16% who said they would travel abroad.

Despite high gasoline prices, 65% or vacationers said they would drive to and from their destination.

Gas costs are at all-time high levels, reaching an average of $4.43 per gallon in the U.S. Inflation is soaring to multi-decade levels as consumers feel the pinch from higher energy and food costs. Rising prices are making their way into the services area.

The cost to fly has also soared, with the latest Consumer Price Index (CPI) read showing a sharp rise in airfares.

Some of the most popular vacation experiences mentioned by survey respondents include:

  • Road trip (20%)

  • Vacation for kids and family (17%)

  • Immersed in culture (14%)

  • Outdoor living (14%)

Ines is a markets reporter covering equities. Follow her on Twitter at @ines_ferre

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