Inflation may not just render the family’s weekend beach trip more costly; it may make it entirely unattainable. Across core economic sectors, inflation is not only elevating daily expenses for energy, food, and other essential goods and services, but it is also pushing the prospect of a family vacation further out of reach.

While the average American might not be seeking an extravagant summer in Paris, they could be merely hoping for an opportunity to step away from the daily grind and spend quality time with their families. However, following a peak of over $78,000 in 2020, real median household income (inflation-adjusted income) has declined annually during the Biden Presidency. This trend forces Americans to allocate more funds towards necessities and reduces the budget for non-essential expenditures, such as vacations.

While it would undoubtedly be beneficial to take a summer vacation and alleviate the stress induced by rising daily expenses, the cost of rest and relaxation is also escalating. Transportation expenses, including airfare, have surged by nearly 33% over the past three years. Concurrently, hotel rates have increased by 40% since January 2021. These increases mean that families are receiving one-third less vacation for their money compared to the Trump administration years.

With stagnant wages, rising costs of daily living, and increasing vacation expenses, families may only afford half the vacation they could have managed four years ago. For many, the cost of a vacation this summer will exceed their financial capacity. When faced with the choice between a weekend at the beach or navigating the grocery aisle while observing rising prices, many Americans will have to prioritize family dinner over family fun.