PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Inflation Has Caused Americans To Not Be Able to Afford Summer Activities
Fun stop sign // Image by Kate Walker
With rising costs for customers and businesses alike, there seems to be a “fun shortage” across the US.
Behind The Shortage: The price of goods and services has increased 4.2%, while the cost of operating a business has risen 6% annually, creating a catch-22: customers can no longer afford to do fun things, and businesses can no longer afford to stay open.
Over the past 20 years, Bloomberg reports that roughly 2,000 golf courses and 7,000 bars and nightclubs have closed for good due to high operating costs and declining patronage.
Since 2001, 20% of movie theaters and 33% of bowling alleys have shut down.
Since 2019, the cost of concert tickets has risen 42%, while vacation rental prices have increased 38%.
Hotel room prices have risen 47% since 2015.
There have also been double-digit declines in the amount of time Americans spend attending events like sports and concerts.
(Un)Happy Ending: Over the past 15 years, the US, Canada, Australia, and New Zealand have all grown less happy, with the US dropping 10 spots in 10 years. While the reasons are complex, part of the story is increased screen time. Americans are spending roughly 8-12% more time on their devices than they did a decade ago. Experiences that once felt routine now feel like luxuries for many families, while wealthier households are still able to afford them.
The Future: People haven’t lost the desire to be together — they’ve just lost access to many of the experiences that once made gathering easy and affordable. As the cost of entertainment continues to rise, communities may find new ways to gather that don’t come with a high price tag.
Together with Insurify
Are You Paying Too Much For Your Car Insurance?
Insurance rates have climbed, and if you haven’t compared recently, there’s a good chance you’re overpaying.
Insurify lets you compare real quotes from top carriers in minutes, so you know exactly where you stand.
Just enter your car’s make and your ZIP code to instantly see rates side by side.
No phone calls, no agents, no fees — just a fast, clear look at what’s available in your area.
Drivers are finding rates as low as $39/month.
The only way to know is to compare.
PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Today’s email was written by Allison Hunt and Kait Cunniff.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.