2023 SWFL Holiday Trip Index
December 15, 2023 / RERI Research Team / Tag: Economics and Finance
With the holidays fast approaching, the Southwest Florida region will begin to see an influx of visitors from northern states and internationally to celebrate the holiday season. These visitors play a vital role in the regional economy, directly supporting the leisure and hospitality sector, one of the largest sectors in the region.
But how much will it cost to celebrate the holiday season down in Southwest Florida this year? This question led to a collaboration between Moran Wealth Management® and the Lutgert College of Business to develop the SWFL Holiday Trip Index. The goal of the index is to understand how prices that visitors face have changed since 2022. We look at four components to calculate the index – airfare, accommodations, restaurants and entertainment.
Celebrating the holiday season in Southwest Florida increased in cost from 2022 to 2023. Our research found that the price increased 4.6 percent year-to-year, from $2,415 to $2,527 for a party of two traveling to the region between December 23rd and December 26th. Three of the four components used to calculate the index increased, including accommodations (up 12.6 percent), restaurants (8.6 percent) and entertainment (3.6 percent). Airfare was the lone component to decline year-to-year, down 5.3 percent.
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