Inflation is causing price spikes across the board, and it’s hurting people’s wallets this year.
Many people are rethinking their summer vacation plans.
While people are willing to book a trip, Airbnb’s Sam Randall says they can hop in a car domestically rather than buying flights to a distant destination.
“Half of the nights booked for this summer are for domestic stays. But then again, we see that people want to travel this year and will do so this summer,” Randall said.
Another trend they are seeing is long-term stay; 28 days or more in the last two years.
“Long term stays are still very popular on our site. They account for 1 in 5 nights booked on Airbnb, a trend that has continued during the pandemic. I think there is an unmet demand for travel.”
A new study found that nearly 40 percent of Wisconsinians are using their income to cover the rising cost of living.
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