Credello: Disney World Prices Are Soaring Due to Inflation. Why You Should Consider a Nearcation

Disney World has been around for over 40 years and is one of the most popular tourist destinations in the world. However, due to inflation and demand, prices are beginning to soar. While it's one of the premier vacation spots, the prices make it harder to justify the trip.

There's a balancing act that needs to take place now due to low wages and high inflation. While you may want to take some time off to unwind, there's still the looming problem of increased credit card debt and less disposable income. Many are skipping Disney vacations to instead focus on paying off debt with consolidation loans and taking nearcations instead of the trip to Florida.

What is a nearcation, and how does it work? Here's what you need to know.

Why are prices for Disney World tickets rising?

Disney World prices are increasing because of two reasons: inflation and demand. The cost of food, lodging, and other attractions have all increased in recent years. With record-high inflation currently hitting the economy, Disney's costs are skyrocketing, too, which creates a spike in ticket prices.

Another reason is the increased demand for tickets. Disney World is one of the most popular destinations globally, and as a result, the park is often filled to capacity with hours-long waits for lines. To help relieve some of this congestion, Disney raised prices on both their one-time tickets and season passes.

What's a nearcation?

A nearcation is a vacation that's relatively close to your home. No matter where you live, there are most likely tourist destinations close by that would be a great experience at a fraction of the cost of Disney World. A few popular options include:

  • Camping grounds
  • National parks
  • Amusement parks
  • Theme parks
  • Beaches

While it's similar to a staycation, nearcations involve leaving home and staying local. Staycations are typically just vacations from work or other obligations taken at home.

The benefits of taking a nearcation

If you're thinking a nearcation might be exciting but still can't shake the idea of a trip to Disney, here are a few reasons that could change your mind.

  • You can save a lot of money. For example, camping grounds can cost as little as $8 per night, while Disney World costs around $109 per day for ticket prices alone. Add in food, souvenirs, and travel costs, and you can be well over $500 per day at Disney.
  • You can avoid the crowds. Disney World is known for being overcrowded and frustrating, especially during peak tourist seasons. A nearcation will give you more flexibility to plan your vacation and avoid those times when it's impossible to get a reservation.
  • You can customize your experience. If you're someone who enjoys going off the beaten path, then taking a nearcation will let you explore new places without spending an excessive amount of money.
  • You'll discover new things about your hometown. A nearcation will give you a chance to explore your city in a way that you would never have during traditional vacations.
  • You'll support the local economy. Many small businesses are struggling due to COVID and the economy. A nearcation will help these businesses stay afloat and keep your hometown thriving.

The bottom line

Nearcations are becoming increasingly popular due to their affordability and flexibility. While Disney World is a fantastic experience, it's worth considering other options if you're looking to save money and reduce your debt load.

Source: Credello


Categories: Personal and Family Finances

Tags: Disney, Financial Services, Inflation, Personal Finance

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Credello is a mobile-first platform that simplifies financial decisions by providing users with personalized, on-demand recommendations—so they can choose the best solution with confidence.