High gas prices, rising inflation and economic insecurity could all affect tourism in South Jersey this summer, a panel of local experts said Wednesday.
But those same gas prices, currently averaging $4.50 a gallon, might actually help Atlantic City, Atlantic County and Cape May County among budget-conscious travelers who want to vacation closer to home and can’t afford soaring airfares, they added.
At Stockton University’s 18th annual Jersey Shorecast forum, tourism experts noted the obvious challenges to a robust summer tourism season this year, including inflation and consumer wariness about the economy.
“The big wild card for me is we have recent indications that consumer confidence is near or at all-time lows, going back to the mid-’70s,” said Oliver Cooke, associate professor of economics at Stockton.
