Rapidly Escalating Costs: Research Reveals Las Vegas Leading US Travel Spots in Price Increases
Based on a recent study by Forbes Advisor, Las Vegas has witnessed the highest price surges among any other popular travel destinations in the U.S. over the past five years.
This city took the lead in terms of the escalating costs of its daily hotel accommodations (an increase of 47.45%), daily car rentals (a surge of 61.44%), and daily meals (a hike of 13.96%).
Forbes' study utilized data from the Business Travel News Corporate Travel Index, Bureau of Transportation Statistics, and AAA to rank the 75 largest cities in the U.S.
The findings showed that the average nightly hotel stay in Vegas now costs $252, setting a new record for the city. The average daily cost for three meals out is $98, and the average daily car rental rate is $77, also new records.
Notably, the increase in car rentals does not account for the rising costs of gas, daily parking fees at resorts, which were non-existent for certain Strip resorts five years ago, or special event parking, which can now reach over $100 for major concerts and sporting events.
The only saving grace was a decrease of 5.53% in the cost of domestic airfare to Las Vegas. However, all the cities that made it to the most expensive lists also experienced drops in airfare costs, with six of the top 10 destinations experiencing larger decreases than Vegas.
Tucson, Ariz., Sacramento, Calif., New Orleans, La., and San Antonio, Texas, followed Vegas in terms of the biggest spikes in travel costs.
Indianapolis, Ind., however, had the smallest overall average increase in travel costs (2.25% for hotels, 6.27% for car rental, and 22.28% for daily meals). However, its Strip isn't as lively.
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