Financial 411: Travel Plans a Go Despite Economy
Tuesday, June 21, 2011
Many Americans appear determined to go on a vacation this summer despite their anxieties about the economy. But they will have to make an extra effort to find savings, with gas prices and air fares both higher than they were last year.
Even with high fuel costs, and a weak dollar compared to the Euro, Charisse Jones, a business travel correspondent for USA Today, said people will be traveling this summer. The paper recently polled readers about their summer travel plans.
"We found out that people are fed up with being pent up," she said. "The staycation is dead."
Jones said a lot of travelers are choosing to drive, because it's still cheaper than flying. She expects air fares to stay at their current levels for awhile, at least through summer, because airlines are making up for fewer sales during the recession.
How high could they go?
"The sky's the limit," Jones said, who noted she thinks they may drop again in the fall.
Jones also talks about some destinations inside and outside the U.S. that could be offering some deals this summer.
Markets rose on Tuesday. The Dow jumped 109 points, closing at 12,190. The S&P 500 was up 17 points, to close at 1,296. The NASDAQ climbed 58 points, closing at 2,687.