Definition of Staycation

What is a "staycation"? What is the definition of the term "staycation"?

"Staycation" refers to the practice of people staying close to home on their vacations. For instance, a couple may decide to remain at home during their two week vacation, choosing to visit local attractions on day trips rather than taking a trip to some exotic location.

Definition of Staycation - Financial Dictionary"Staycations" rose to prominence during the "Great Recession", as many families simply did not have the funds to embark on traditional vacations. The obvious major benefit of "staycations" is that families will save on expenses such as airfare, hotel costs, car rentals and gasoline. The term became so popular that it was actually added to the Merriam-Webster dictionary in 2009.

In years past, many families would look to save on travel costs by driving to their destinations, rather than flying. Over the past few years, gasoline costs have skyrocketed, making travel by automobile fairly costly. For this reason, many families have chosen to have "staycations" that involve staying close to home.

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