According to the Recreation Vehicle Industry Association (RVIA), nearly one in nine U.S. vehicle-owning households also own a recreational vehicle and there are currently 8.9 million RV owners.
What attracts this large number of people to RV ownership? Why own an RV?
The attraction of recreational vehicle travel is to see the country, visit new places, meet interesting people, and experience the freedom of the open road.
A new study conducted by PKF Consulting USA, and commissioned by RVIA, shows that RV vacations also cost substantially less than other forms of vacation travel, even when factoring in fuel prices and the cost of RV ownership.
For a four-person travel party, the study found savings of 27 to 62 percent; a two-person travel party saved 15 to 48 percent.
This study updates previous vacation cost comparison studies done by PKF.
The PKF study provides a vacation cost analysis using two sets of hypothetical travel parties: a four-person travel party of two adults and two children, and a two-person travel party of two adults.
PKF analyzed major costs these hypothetical travelers would incur taking nine different types of vacations to nine popular vacation destinations. For each destination, researchers analyzed vacations last three, seven, and 14 days.
The study compared different methods of travel, including a folding camping trailer, a lightweight travel trailer, a compact motorhome, a Class C motorhome, and a Class A motorhome. The Class A motorhome was used for comparison vs. first-class travel options such as flying first class, renting a premium car, staying in upscale hotels/resorts, and eating meals in restaurants.
RV travel emerged as having a clear economic advantage over other forms of travel, regardless of the RV type. Below is what a four-person travel party could expect to save:
Folding camping trailer – 47-62 percent
Lightweight travel trailer – 34-53 percent
Compact motorhome – 27-48 percent
Class C motorhome – 28-48 percent
Class A motorhome – 38 percent
A two-person travel party also saved, according to the analysis:
Folding camping trailer – 38-48 percent
Lightweight travel trailer – 23-36 percent
Compact motorhome – 19-32 percent
Class C motorhome – 15-28 percent
Class A motorhome – 14 percent
As part of its analysis, PKF considered how fluctuating fuel prices might affect vacation costs. Their findings showed that fuel prices would have to reach more than $12 per gallon for a four-person travel party before RVing would begin to lose its economic advantage over other forms of travel. For a two-person travel party, fuel would have to reach $6 per gallon, RVIA noted.
According to a separate RVIA report, the 77 million people born from 1946 to 1964 or “baby boomers” make up the fastest-growing segment of the expanding RV market.
“According to 2010 U.S. Census figures, every day 12,500 Americans turn 50. We believe that this population segment, seeking an active lifestyle, will provide opportunities for our future cash-flow growth. As RV owners age and move beyond the more active RV lifestyle, they will often seek more permanent retirement or vacation establishments,” stated the report.
“According to 2010 U.S. Census figures, the baby-boom generation will constitute almost 19 percent of the U.S. population within the next 20 years. Among those individuals who are nearing retirement (age 46 to 64), approximately 59 percent plan on moving upon retirement.”
I would like to share the one for today with you…
Live one day at a time–
While you can plan for tomorrow, you can’t live it until it arrives. Most people spend so much time regretting the past and worrying about the future, they leave no time to enjoy today!
John Lennon once wrote, “Life is what happens to you while you’re busy making other plans.” Decide to make the most of each moment.