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The Economics of Travel

Save for the countless adventures, people I meet, and weird food I get to eat, I am aware of the more serious side of travel – budgeting. There are definitely a lot of preparation involved when planning a trip – just one example would be whether going to the Four Seasons Hotel, or just check-in at some bed and breakfast – where the catch always is ‘if you want good quality accommodation with additional services and facilities, it’s going to cost you more’. Well, just like in any other industry I suppose – more of anything that you get also means more money they will charge unto you.
So when traveling, which one would you choose? Quality or Cost?
• Transportation – Depending on the destination as well, the quality of your mobility can cost you some serious money if you really want all those extras.
For quality, go business class – this can get you a more decent airline food, get you more legroom, and comfier seats and more inflight entertainment options especially on long flights.
For something easier on the budget, go economy. Nothing as fancy as business class but if its just moving from one city to another, you can fly either way.
For quality, choose preferred carriers – American Airlines, Asiana, or Emirates are just some of the airlines that can charge passengers up to a hundred dollars more compared to other carriers because of newer aircraft, bigger insurance, and some offer more luggage allowance. All the quality you can see in a flight – just a few more bucks.
For something lighter on the wallet, choose smaller carriers, or way cheaper is by taking the train (when applicable).
• Accommodation
For quality, go to five-star hotels. You can get butler service, a great pool, some even have casinos, have buffet meals everyday, and some even have a driving range.
For something that can stretch your budget for other expenses, go to hostels or bed and breakfasts. You get basic amenities, but you can really feel the difference when it comes to the expense.
• Daily expense
For comfort, you can get the services or a tour guide when you a get package tour. Because of mark up and some compulsory tipping, you’d be paying way more.
For lesser cost, go on a DIY tour, and to save on transportation, you can walk to tourist spots nearby while really feeling the local culture.
Like in any other product or service, premium quality – whether for coffee, ice cream, bags, or airline – they come with premium price as well. Average ones, well, they wouldn’t hurt your budget as much but some ‘luxuries’ and ‘comfort’ are not readily available.
I say if you’ve got money to spare, then just go first class all the way. Or if you’re fine staying in a hostel, since you will be spending most of your time out anyway, then save some cost and avoid staying in a five-star hotel if you wont be needing any of their other services.
What’s most important is that you get what you want – all the fun, and either all the luxury or all the great deals.
 

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