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Americans cut back on travel as inflation hits wallets

With surging inflation and rising living costs, wallet-busting travel experiences are losing their...

👤 H K Badal7 Nov 2022 1:59 PM GMT
Americans cut back on travel as inflation hits wallets
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With surging inflation and rising living costs, wallet-busting travel experiences are losing their appeal and areas dependent on tourism have taken a hit.

As America heads into the midterm elections on Tuesday (Nov 8), money is top of mind. A recent survey showed that 44 per cent of voters indicated financial issues such as inflation, the cost of living and the job market as their highest priority.

A separate survey by US investment management firm State Street Global Advisors showed that rising inflation in the preceding year led to more than a third of respondents spending less on vacations or delaying a major purchase due to inflation.

The findings were released in August this year. The report, titled "Inflation Impact Survey", sought to reveal how inflation was influencing Americans' spending, saving, and investing behaviour.