Inflation forces 50% to cancel vacations, 65% cut dining out, global stress rises as spending tightens.

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According to recent surveys, inflation has indeed impacted Americans’ spending habits and summer vacation plans:

Summer Vacation Cancellations:
- A ScoreSense survey found that 50% of respondents plan to cancel or postpone vacations due to financial challenges caused by inflation.
- Additionally, one in three respondents said they intend to spend less on expensive vacation locations.
- About 53% of respondents reported planning a vacation that costs less than $2,000.
Spending Cutbacks:
- To cope with inflation, many Americans are cutting back on non-essentials. Here’s what respondents said they spent less on in April compared to the previous year:
  - Eating out: 65%
  - Entertainment: 46%
  - Clothing: 44%
  - Gifts for friends and family: 36%
  - Groceries: 33%.
Global Impact:
- Inflation stress is a global issue 74% of workers worldwide cited inflation as the top cause of stress in their lives.
American consumers’ pandemic-era wealth flattens, study finds

20% of US are canceling their summer vacations due to inflation, and nearly 50% are making other budget cuts to make ends meet, per FORTUNE.

— unusual_whales (@unusual_whales) August 13, 2024