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1. Gas Prices Trend Down Ahead of Summer Kickoff
Gas prices are a full dollar lower than they were heading into Memorial Day weekend in 2022, which could portend a strong travel weekend to kick off the summer season, the New York Times reports.
According to AAA data, gas averaged $4.60 a gallon in May 2022, and average prices are down to $3.50 a gallon this week. Experts expect prices to remain mostly static through the summer.
"Because supply was stronger and demand was weaker than many traders and analysts had expected, the U.S. benchmark oil price gradually fell from around $120 a barrel last summer to around $72 a barrel on Thursday," the newspaper reports.
2. Politicians Near Deal on Debt Limit
In other positive economic news, signs point to a deal to avert a U.S. government default coming together soon with both Republicans and Democrats giving some concessions to save face within their bases, the New York Times reports.
"The deal taking shape would allow Republicans to say that they were reducing some federal spending — even as spending on the military and veterans’ programs would continue to grow — and allow Democrats to say they had spared most domestic programs from significant cuts," the newspaper reports.
The Treasury Department has warned the government could default if a deal is not reached by June 1.
3. Inbound Tourism Returning To Japan
HNN's Dana Miller reports that much like the cherry blossoms, international travel demand has returned to Japan, a country that has economically struggled since closing its borders for the pandemic.
Carlos Tarrero, general manager of The Ritz-Carlton, Kyoto, said demand patterns have shifted in recent years to obviously favor more domestic travel, but hotels will get a boost from returning inbound travelers.
"Japanese are very passionate about their culture and traditions and do travel extensively across Japan along the year," he said. "The domestic market doesn't outweigh the foreign travelers but in our case, we certainly see that it is more relevant than it already was prior to the pandemic."
4. NAACP Travel Advisory Sparks Response
The NAACP has issued a travel advisory for Florida, noting the state "is openly hostile toward African Americans, people of color and LGBTQ+ individuals." While leaders have been careful to clarify it is not an attempt at a boycott or travel ban, the move has drawn ire from some in the state, NBC News reports.
“Let me be clear: We’re not calling for a boycott or a travel ban,” said Leon W. Russell, the chairman of the NAACP national board of directors. “We’re saying to Black people who come to the state or who are thinking about coming to the state that you need to be aware of what’s going on here and you need to think about how you are going to be impacted by this hate and cruelty that is being generated. You need to consider whether or not you’re going to be safe.”
The administration of Florida Gov. Ron DeSantis, now a presidential candidate, has called the advisory "nothing more than a stunt."
5. Costs A Big Part of Star Wars Hotel's Failure
The Washington Post recently took a look at why Disney's much-discussed Star Wars: Galactic Starcruiser hotel closed so quickly after opening, with plans to wind down operations later this year. The article cited high costs for both consumers and the company at a time when travelers are trimming their personal budgets as a primary concern. A two-night stay for two people cost $5,000.
“All of the young professionals that should have gone to the Galactic Starcruiser, they were the ones who suddenly were watching their pennies because people kept talking about, ‘We’re in a recession, maybe not, you could lose your job,’” theme park historian Jim Hill told the newspaper. “In a situation like that, are you going to spend $5,000 to 6,000 on a two-day-long voyage on a fake starship?”