Ask a professor: CWRU experts share ways to travel smarter in today’s global economy

Before taking a road trip, flying to a professional conference or organizing a getaway beyond Cleveland, thoughtful planning is often an essential part of travel. As rising costs and shifting economic conditions continue to shape how people move through the world, hopeful travelers may also find it beneficial to think strategically about when and how to travel.

The good news: with the right approach, meaningful travel is still well within reach.

To learn ways to travel smarter in today’s global economy, we spoke with Jonathan Ernest, assistant professor of economics, and Mary Sasmaz, assistant professor of accountancy, at Case Western Reserve University’s Weatherhead School of Management. 

Whether you’re planning a last-minute vacation before the 2026–27 academic year or planning ahead for winter break travel, consider these strategies. Once you book a trip, take a moment to review tips Shanina C. Knighton, PhD, adjunct associate professor at Frances Payne Bolton School of Nursing, shared with U.S. News & World Report to stay healthy while traveling.

Q: What economic trends are shaping travel in 2026?

Ernest: The biggest news so far in 2026 economic trends is high gas prices and their effect on budgets and general prices. Whereas the last few years have seen significant inflation and concern over tariffs, this year consumers are particularly cognizant of the pain they feel at the pump. 

Higher fuel prices take up a larger portion of budgets and create more costly trips to the gas station. These prices can also increase the cost of travel and transportation for consumers more broadly, causing higher ticket prices for air travel. Higher diesel prices are putting a strain on everyone—from farmers to long-haul truckers—driving up the cost of travel essentials and rideshares to and from the airport. 

Q. What should travelers keep in mind when setting a budget?

Sasmaz: Setting a travel budget can get tricky because, even with thorough research, you likely cannot predict all the costs you might incur. Since available money is finite, it’s important to build in a cushion. Set your planned spending lower than your total budget so you have flexibility for unexpected expenses. 

The biggest costs are typically airfare and lodging. Lodging in particular can vary widely—sometimes it’s surprisingly affordable, and other times it can be more expensive than expected—so it’s important to plan accordingly and stay flexible where possible.

Q: How can travelers find affordable vacation options in today’s global economy?

Ernest: While high prices can feel unavoidable, consumers may be able to avoid sticking to a summer “staycation” in 2026 by finding great deals or considering trade-offs and substitutions. Limiting travel distance can mean an enjoyable, but less costly, vacation without feeling stuck at home. Consider shorter drives to area attractions or try to increase your efficiency by having a group vacation where several people can split the cost of travel. For higher prices, you could also still potentially find deals using travel comparison sites to be sure you’re not overpaying for your hotel or flight. 

Don’t get too set on any one destination before you check out approximately what the total cost of travel would be. This could be a great time to use the efficiency of artificial intelligence to help construct an estimated budget or give suggestions for travel destinations or modes of transportation that you may not have considered on your own. 

Q: What are some ways travelers can save money on lodging, food and daily expenses?

Sasmaz: If your budget is extremely tight, consider staying in hostels, especially in regions like Europe where they are common. While you may share space or bathrooms, they can be very affordable and allow you to meet other travelers. If you prefer hotels, consider what matters most to you. A lower-star property may be as good or better than a higher-star rating. Online reviews could help you find a gem in the rough that includes a full breakfast or other extras that cut down on additional out-of-pocket expenses. 

For food, costs in tourist-heavy areas can add up quickly, so consider going where locals eat or venture off the beaten path for more affordable and authentic meals. If you’re running low on funds, grocery stores can also be a great option. Buying local staples—like cheese, bread or wine—can be budget-friendly and tasty and memorable travel experiences.