Can you travel cheap during recession?
The UK is now formally back in recession after the economy shrank by 0.2% in the first three months of this year. The news won’t be shocking to many of us. We may feel like we’ve never truly emerged from the recession because of rising living expenses and stagnant income.
So, where can you Travel Cheap in Recession?
In the summer of 2022, the United States already entered a recession.
Simply put, you need a holiday now more than ever before. The good news about the bad news is that the financial crisis has unexpectedly made some normally expensive locations accessible, which means travel cheap during recession.
So, as the best travel agents in London, we have compiled a list. Here are our Best Places to Travel Cheap in Recession:
Iceland is right now one of the best destinations to travel cheap during recession. The credit crunch has had the most severe impact on Iceland, with both its banking sector and its currency, the kronur, nearly collapsing.
An Arctic cloud’s silver lining is that a once-expensive but unforgettable resort in Europe has suddenly become more affordable. Cheap hotels in the trendy city of Reykjavik, start at about 52 GBP per night on Icelandair flights departing from London. Sure, there are only around five hours of sunlight each day if you visit in the late fall or winter, but Icelanders know how to make the most of that time.
2. South Korea
The current economic crisis is sickeningly familiar to South Koreans. The long-ignored travel destination still has plenty of unexpected deals to offer, which mean you can travel cheap during recession. Amazing Seoul is home to stunning royal castles, imposing mountains, and spicily delicious street food.
South Korea boasts artistic port cities like Busan and cultural hubs like Gwangju outside of the capital, where about half the population resides. Additionally, soju, a strong rice wine that will help you forget about the recession as well as everything else, is available everywhere in the nation.
The numerous attractions of Australia are accessible to British budget travellers— a round-trip ticket from London to Sydney will cost about 500-1000 GBP with FlightsPro. The good news is that when it’s winter up north, it’s summer down south. So, get ready to travel cheap during recession.
The northwest neighbour of America is an excellent place to spend your money, with everything from the urban appeal of Montreal to world-class skiing at Whistler (and, in between, Saskatchewan). Bonus: Global warming will make Canada’s harsh winters slightly more tolerable.
Greece may seem like the last location to go for a low-cost vacation because it is another country that is experiencing financial difficulties, which can only mean one thing – travel cheap during recession.
However, there has been a decline in the number of tourists this year, so many travel agencies are providing enormous discounts on vacations. Greece is a stunning country with many sights to see, including Athens and the many charming islands.
Vacations spent camping are a fantastic way to save money. Even though the lodgings aren’t exactly five-star, you won’t spend much time in the tent due to the south of France’s pleasant, sunny weather.
Although it may not immediately come to mind when considering traditional summer vacation spots, your money will go a lot farther in Bulgaria than it will in Spain.
According to research by the Post Office, Eastern Europe is the most affordable vacation spot for Britons this year. With its stunning beaches and ancient cities, Bulgaria is expected to gain popularity among both families and tourists.
8. Rest of Europe
For tourists from other nations travelling to Spain, Portugal, Italy, Greece, and Ireland, the euro’s decline is excellent news. Although flights remain expensive but we can help you find cheap flights.
Local pricing will be generally cheaper than when you first arrived.
However, one benefit of Europe’s economic crisis is that many tourist destinations, such as beaches, monuments, and museums, are becoming less crowded. Additionally, several European cruises are reducing their prices due to a decline in passengers, particularly in the Mediterranean.
In terms of activities and hotel quality, Jamaica is without a doubt the best option in the Caribbean. This is a fantastic destination because the private sector has done a tremendous job.
For the rest of us, it’s a good thing that a trip to Fiji doesn’t require such a significant financial investment because of a weak local currency. Once you arrive, everything will be marked down significantly.
3 ways to travel cheap during recession.
The tourism industry is prone to having an especially bleak outlook during recessions, especially travel cheap during recession. Spending on non-essentials like vacations is typically the first to go as household budgets become more constrained.
However, this widespread pattern does not imply that you, your family, or your friends must forgo travel during a downturn.
Of course, cutting back on travel can be done easily by choosing less expensive or more frequent trips. To get more for your money, it is possible to travel more intelligently rather than less.
To ascertain how much leeway your budget offers for discretionary spending, it is advisable to prepare your finances for a recession. After that, decide which of these tactics to use.
1. Be flexible with your travel dates
Perhaps you had dreams of visiting Dubai or the US during the holidays. Be adaptable. Work backwards from affordability rather than planning itineraries and budgets around certain attractions. Join our email list for travel deals and other alerts. Keep an eye out for great deals, and then book them when they appear.
2. Keep a check on the exchange rates
In fact, these conversion rates will fluctuate wildly and unexpectedly, so it’s better to verify the current prices before making travel arrangements.
A somewhat strong pound will lower the real cost of standard trip expenses like meals and ride-sharing, but it can also lower the prices of expensive travel necessities like hotel rooms and train tickets.
3. Make Use of Rewards
Perhaps you already know how to optimise points and miles, or perhaps the thought of doing so makes you feel anxious. Playing the rewards game is, in any event, the simplest method to travel “cheaply” while managing your personal budget. Using rewards travel as motivation, for example: Make it difficult.
Make it your mission to plan an entire family vacation using only points and miles.You’ll be astonished at how inventive you can be given practical limitations. And, we can surely help you book flights and hotels using rewards.
We don’t know when the next recession will start or whether it’s already here. However, it is feasible to create a personal travel strategy or let us do the job for you that is largely recession-proof, regardless of broader economic conditions for your travel cheap during recession.