Gas prices, inflation dampening summer vacation plans
Gas, hotel, airfare see ‘crazy’ prices ahead of summer vacations
FOX Business’ Jeff Flock speaks to Jersey Shore businesses and travel experts on how inflationary prices impact tourism and the economy.
From beach chairs to cheese balls, to rides and henna tattoos – if you’re planning a visit to the Jersey Shore this summer, get ready to pay more.
The city of Seaside Heights, New Jersey, is under pressure to top last year’s red-hot summer season, which saw visitor numbers surge 24% year-over-year and their spending add more than $20 billion to its economy, according to an Atlantic City tourism report.
But businesses and travel experts fear rising costs and continuing labor shortage concerns could prevent beachgoers and travelers from leaving home during one of the country's busiest vacation seasons.
"We're always welcome for people to come in and apply for a job," one t-shirt shop employee Xavier told FOX Business’ Jeff Flock on Thursday. "Nobody's wanting to come out here and get some work."
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"Whether it's gas, hotels, airfare, food, inflation is crazy right now and people are paying it," travel blogger and analyst Lee Abbamonte added.