Food, drink, activities and gasoline prices have all increased and, therefore, it should be no surprise that the average price of a Jersey Shore vacation is going to cost more, too. Prices for 2024, according to research from Affinity Federal Credit Union released Tuesday, showed an increase of 7% from last year. While this increase is higher than the 4% uptick seen in 2023, it is notably lower than the substantial 16% surge between the 2021 and 2022 seasons.
“The Jersey Shore remains a great destination for summer vacationers,” Grant Gallagher, financial wellbeing and brand communications at Affinity Federal Credit Union, said. “Our annual survey remains a hallmark of our membercentric approach, as we strive to help vacationers enjoy their time away without compromising their financial health. It’s about making informed decisions and optimizing resources to enhance overall enjoyment and affordability.”
Beach badges, beach chairs and umbrella rentals remained steady, but food and drink costs have risen by 3.6%.
Leisure activities, like mini golf and amusement park rides, experienced a significant increase of 13%.
Travel costs increased 11.6%, with gasoline prices notably down by 2.33% compared to the previous year.
Despite rising prices, the New Jersey Division of Travel and Tourism expects tourism will reach 124.1 million visitors this summer and is projected to further increase to 127.4 million by 2025. Spending is expected to surge to $52.8 billion in 2024, signaling a thriving trend in economic activity. This showcases how valued these vacation experiences are among individuals and families.
“Without effective budgeting, it can be difficult to enjoy the emotional rewards of a summer vacation,” Kevin Brauer, CEO & president of Affinity, said. “While we always prefer to see these leisure costs remain steady, we understand how deeply cherished the associated memories are for families. For this reason, we strive to consistently provide our members with resources to support these types of financial goals.”
Affinity’s wellbeing specialists advise families to be aware of how seemingly small price increases can accumulate over time. Proactively managing finances can better navigate these challenges and preserve their long-term financial stability.
This research was conducted via an April survey of New Jersey Shore town businesses and compared to products and services surveyed in summer 2023. Businesses or goods included in the research are not endorsed by or members of Affinity Federal Credit Union.
