The United States has the world’s most extensive coastline, with 3,000 miles of public beaches. When it comes to visiting them though, it’s important to know that you’re getting the most bang for your buck. A new study by Bankrate found that the average cost per day for a family of four at an amusement park is $450; whereas going to the beach costs about $50 each day for food and activities combined. The Beach Price Index shows how much you’ll spend if you visit major coastal cities across America over one year.
Definition of beach price index
The Beach Price Index is a measure of the monthly average cost to enjoy the beach in a particular coastal city over the course of a year, as opposed to a comparative index based on the cost of other activities such as sightseeing, eating out, and golfing.
It includes food and beverage costs like beverages, beer and wine, ice cream, and frozen yogurt along with other items such as sand toys and towels. This index does not include beach chairs or umbrellas because this data was not available for all areas surveyed.
This index is based on actual expenditure data collected from over 6 million travelers in more than 1,000 cities worldwide.
The index uses data from the Bureau of Labor Statistics to track consumer prices at beach-related organizations like hotels, restaurants, and gift shops. The bureau collects information on the cost of living for a variety of goods and services in each metro area, including housing, transportation, and utilities.
The report compared the price of different items in each city during the month of June 2018 against what people paid for those items in New York City. Results show that costs vary widely across cities—but also within them.
Calculating of beach price index
A beach price index is an index that measures the cost of beach-related items in different cities. The beach price index is based on consumer prices, and so it can be used to compare the cost of a trip to the beach in different cities.
In order to create a beach price index, you need to gather data on consumer spending rates in each city. You also need to find out how much people spend on specific items when they go on vacation at the shore. For example, if you are interested in creating a beach price index for New York City, you would want to know how much money people spend when they go there for their summer break. You might find out that one person spends $10 per day on food and another spends $50 per day on lodging and meals combined (this might be because one person stays at home while the other rents a room). Then you can add up all those totals together and divide them by 365 (because there still isn’t enough time during your trip).
FAQ
How long is a vacation?
According to research published in the Journal of Happiness Studies, the ideal length of a vacation is exactly eight days.
When should I take a vacation?
Experts say you should take at least a week off between jobs if you can afford to skip a paycheck.
How often should I vacation?
The total amount that you should spend on vacation is 30-45 days per year.
