Affordability makes RVing the smart choice
“Consumers continue to place a priority on traveling and spending time with family and friends and this study confirms the fact that RV vacations are one of the most economical ways to travel,” said RV Industry Association President & CEO Craig Kirby. “RV vacations provide freedom from many of the traditional hassles of travel, while also providing greater control over your budget.”
These savings are according to a newly released study by CBRE Hotels Advisory Group that found there is an average cost savings of up to 60% for a four-person RV travel party, while a two-person RV travel party saves up to an average of 46%, even when factoring fuel prices and the cost of RV ownership.
For the most common type of RV, the lightweight travel trailer, the average cost per day of the 4-person camping vacation was found to be about 48% less than the average daily cost of a comparable 4-person air/hotel vacation and to be about 34% less expensive than the average daily cost of comparable 4-person car/hotel combination vacation.
Savings are similar for the fastest growing segment of RVs, Class B motorhomes, where the average cost per day of the 4-person camping vacation was found to about 49% less than the average daily cost of a comparable 4-person air/hotel vacation and be about 35% less expensive than the average daily cost of comparable 4-person car/hotel combination vacation.
With consumers becoming more cost-conscious, the affordability and ease of RV vacations is a major draw for travelers. But cost isn’t the only driving factor behind the growth in popularity of RVs. Changing priorities and an emphasis on getting outdoors has brought hundreds of thousands of new RVers into the market in the past three years.
These new RVers are younger and more diverse than ever before, with the median age of a first-time RV buyer in 2022 dropping to 32 years old. The changing faces of RVing has expanded the market for the industry, providing long-term growth opportunities for an industry that is bringing families and friends together to create lasting memories and stronger bonds with each other and the great outdoors.
About RV Industry Association
With offices in the Washington, D.C. area, and Elkhart, IN, the RV Industry Association is the leading trade voice of the $140 billion dollar RV industry.