Freedom to Travel This Summer Will Come at a Hefty Price

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Ken New

Financial Advisor
Pinnacle Financial Wealth Management
Office : (321) 454-3623
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If you’re one of the 73% of Americans planning to travel this summer, brace yourself for a turbulent trip. Almost all facets of the industry—from airlines to rental cars, cruises to hotels—are facing global service disruptions, a result of the same supply chain and labor shortage issues upending all businesses. There are also price spikes aplenty and some record demand crunches, because so many people are desperately eager to be on the move after two years of pandemic confinement.


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There’s good news, to be sure. Borders have largely reopened around the world, with Covid-19 restrictions dropping by the day. And travelers are still reaping the benefits of remote work. According to a report from Deloitte, 1 in 5 of them plan to take their longest-ever trip this summer, albeit with a laptop in tow.

Thanks to inflation, it’s finances, not a virus, that travelers are most worried about these days. Where are they all heading in the warm-weather months ahead? According to Skyscanner Ltd., an exact location is almost beside the point, with 75% of American vacationers saying they’re open to changing their destination. Going somewhere—anywhere—is good enough.

This summer may be the most challenging one on the books for many travelers, with potential problems at every turn. That doesn’t mean it has to be a nightmare. The key will be staying flexible along the way.

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© 2022 Bloomberg L.P.

Ken New profile photo

Ken New

Financial Advisor
Pinnacle Financial Wealth Management
Office : (321) 454-3623
Let's Chat!