With summer in full swing, many solo travelers and families are looking to plan their next vacation. One of the best options to consider is a trip to the Big Apple in New York.
New York City is an iconic vacation destination and has been for many years due to the sheer number of activities in the area and the vibrant culture the city offers to tourists.
While planning a New York City vacation is certainly a good idea for any traveler, the pure size of the city makes this a difficult task.
In fact, the city is so large that it often takes multiple trips to see everything it has to offer.
To that end, learn everything you need to know about planning a cost-effective New York City vacation.
How Popular is New York City Tourism?
Prior to the Covid-19 pandemic, New York City was on a ten-year consecutive streak of increasing the number of visitors to the area on a yearly basis.
The last record set was above 65 million visitors in a single year alone, which is an incredibly high figure considering the fact that the city only has a population of around 8.5 million people.
This means that nearly eight times the population of New York City decides to visit this location on a yearly basis.
How Expensive is New York City?
It likely comes as no surprise to hear that New York City is one of the most expensive travel destinations in the world.
As a result, the average New York City vacation price falls just shy of $2,000 for a single week alone.
This is the price for a single traveler, however, meaning a family of four may expect to pay somewhere between $6,000-$8,000.
The bulk of these costs come from accommodations and activity costs, with food costs coming up just behind.
Budgeting Tips for a New York City Vacation
To ensure you have a fun vacation without needing to worry about how much money you are spending, you will need to build out a vacation budget. The following four tips are the best starting point for any traveler:
Set Up a Dedicated Travel Savings Account
All travelers should maintain a dedicated travel savings account which holds funds that are only used for vacation purposes.
This account should be set up separately from your standard savings account to avoid accidentally mixing funds.
On a monthly basis, set a target for this savings account so that you can slowly contribute enough money to be able to make a difference when planning your vacation.
Think About Both Large and Small Costs
When you are on vacation, there are bound to be both large and small costs that need to be considered.
Both type should be factored into your budget, but most people only choose to include the largest costs such as hotel prices or airline costs.
Consider including other items, such as the cost of luggage storage services in New York City, into your budget.
Consider Alternative Accommodations and Transportation
As mentioned above, accommodation costs are a significant portion of a travel budget, which is why considering alternative options is so important.
Rather than staying in hotels, consider staying in vacation rentals offered through Airbnb or similar platforms which allow you to rent a space for the duration of your vacation.
This also allows you to cook your meals, rather than eating out, which can save large amounts of money. On top of this, rather than using rideshare services, think about public transportation options in your area.
Book All Activities in Advance of Your Trip
While some things should be spur of the moment on vacation, consider booking your activities in advance.
This can provide you with discounts on price that add up to potentially hundreds of dollars depending on the amount of activities you partake in.
4 Must See New York City Attractions for Your Trip
Beyond having a budget in place, consider taking a trip out to one of the following iconic New York City destinations and working these locations into your budget:
- The Statue of Liberty
Serving as a beacon of hope and liberty in America, the Statue of Liberty was a gift of friendship from the French. Consider taking a ferry boat ride out to the statue in order to take it all in for yourself while walking around the small museum that sits at the base.
- Central Park
For those seeking a little bit of relaxation in the sun amidst an urban jungle, consider visiting Central Park to take in the grass and trees. As one of the biggest urban parks in the world, Central Park is a great way to relax from the hustle and bustle of the city around you.
- The Empire State Building
Standing as one of the most iconic buildings in New York City and the United States as a whole, visiting the Empire State Building is an excellent choice. For those not afraid of heights, there is an observation deck where visitors can take in sweeping views of the city.
- Ellis Island
In addition to the Statue of Liberty, Ellis Island was a major destination for immigrants into the U.S., serving as a major part of American history. Consider tacking on an Ellis Island ferry boat on top of your Statue of Liberty tour for the complete experience.
The Bottom Line
The Big Apple is one of the most famous destinations worldwide, but it is also one of the most expensive cities in the world.
This means that properly budgeting for your vacation is crucial so that you don’t accidentally fall into debt while on your trip.
One of the most important parts of building a vacation budget, though, is determining the activities you will do and their costs.
Consider each of the above four activities when planning your NYC vacation to have a fun and exciting vacation.