Although a trip to the Jersey Shore will be a little bit more expensive this year, it won’t come close to last summer’s sticker shock.
That’s according to Affinity Federal Credit Union’s second annual cost index, which calculated that a vacation will cost families about 4% more than it did last summer. However, from 2021 to 2022, that leap was 16.6%.
To calculate the average cost of a shore vacation, Basking Ridge-based Affinity analyzes traditional activities and necessities in four major tourism categories – travel, beach, food & drink and activities – to track cost changes over time.
Jacqui Kearns, Affinity’s chief brand, strategy, and wellbeing officer, said this year’s results were “relieving.”
“This means it is significantly more achievable for families to enjoy the quintessential Jersey Shore experience this summer,” Kearns said in statement.
As NJBIZ recently reported, New Jersey tourism officials are expecting the industry to surpass pre-pandemic levels this year, despite economic challenges.
The breakdown
According to the Affinity index, families can expect to see (costs compared with last summer):
- 4% increase in beach services, such as beach tags, chair and umbrella rentals;
- 11% increase in food and drink, including coffee, taffy and pizza;
- 8% increase in leisure activities, such as mini golf and amusement park rides;
- 7.7% decrease in travel, thanks to gas prices that are 23% lower now than in May 2022, when Garden State drivers were paying an average $4.45 a gallon – eventually paying more than $5 a gallon later in the summer.
Kearns noted that while this year’s increases were more moderate than last, “to see a 20% increase in overall costs in just a two-year span is notable and presents families with a very real challenge in 2023 and beyond.”
Research was conducted via a May 2023 survey of New Jersey Shore town businesses and compared with products and services surveyed in summer 2022.
