SEASIDE HEIGHTS, NJ — A recent study by Affinity Federal Credit Union indicates that the cost of vacationing at the Jersey Shore has increased by 7% in 2024, a notable uptick from the 4% rise recorded in 2023. This increase is still less dramatic compared to the 16% jump between 2021 and 2022.
Affinity’s research, conducted in spring 2024, highlights cost hikes in various aspects of a typical shore vacation. While beach service costs, such as tags and rentals for chairs and umbrellas, have remained stable, there has been a 3.6% increase in the price of food and drinks. Leisure activities, including mini-golf and amusement park rides, saw the most significant rise of 13%. Travel expenses also surged by 11.6%, although gasoline prices dropped by 2.33% from last year.
Grant Gallagher, AVP of Financial Wellbeing and Brand Communications at Affinity, emphasized the Jersey Shore’s continued appeal, stating, “Our annual survey is a cornerstone of our commitment to helping vacationers manage their expenses without sacrificing the quality of their vacation.”
With the approaching summer, Affinity encourages proactive financial planning. Tips for economical vacationing include opting for day trips and local activities to minimize travel costs and saving throughout the year for holiday expenditures. These suggestions and more can be accessed via Affinity’s podcast.
Despite the cost increases, the New Jersey Division of Travel and Tourism forecasts a rise in tourism numbers, with visitor figures expected to hit 124.1 million this summer and 127.4 million by 2025. Tourist spending is also projected to increase to $52.8 billion in 2024.
Kevin Brauer, President & CEO of Affinity, highlighted the importance of budgeting for vacations, noting, “Effective budgeting is crucial for fully enjoying the emotional benefits of summer vacations. We aim to help our members create lasting memories without financial strain.”
The survey, which compared data from New Jersey shore town businesses in April 2024 to the previous summer, serves as a guide for families to manage small price increases that can significantly impact overall expenses.
