After a few years of little to no travel, everyone is itching to get away. Travel spending continues to increase and is already four percent above 2019 levels. Additionally, just over half of Americans and 79 percent of leisure travelers plan to travel for leisure in the next six months. What’s more, air travel demand has exceeded 2019 levels.
That said, if you’ve gone to book a flight in the last few months and cringe at the price on Google Flights, you’re not alone. Inflation has made travel exponentially more expensive—travel has increased an average of 11 percent year over year (YoY), with air travel up over 25 percent. So that same flight that used to cost less than $200 roundtrip is now upwards of $300 or $400.
We have a hack for you. And no, it’s not signing up for a million credit cards in an attempt to travel hack your way to your dream trip. It’s using your PTO.
Wait, I Thought I Was Already Using PTO?
We’re not talking about using PTO to take a trip but about using PTO to pay for the trip. You, like many other Americans, probably have a surplus of PTO. The average American worker has 9.5 days of unused PTO each year. So, you probably have a bunch of unused PTO you’ve accrued that’s just sitting there going to waste unless you use it or lose it.
Don’t think of PTO as solely time you must take off, but rather monetary value that’s a part of your overall compensation, like currency. And like with any currency, your PTO can be exchanged into causes that matter the most to you, like travel. When you don’t take time off, you leave your hard-earned time (and money) on the table. You’ve already earned it, so it’s yours to do however you want.
So why not put it toward your vacation fund? Instead of losing your PTO at the end of the year, you can use it to pay for your vacation. Now you have no excuse to take that trip to the Adirondacks, Spain, or a staycation at a fancy hotel downtown.
How You Can Use Unused PTO for Traveling
Through the PTO Exchange platform, you can convert unused vacation hours into airfare, hotels, cruises, rental cars, and other services to help you take your dream vacation. As a result, you can reward yourself or loved ones with a much-needed and deserved break.
Here are a few examples of how employees have used PTO Exchange for travel:
“Finally, a way to make great use of my unused vacation time. I had excessive days due to not traveling over the past two years. Using PTO exchange helped me afford the trip of my dreams with additional vacation time to spare.”
— Brandie H.
“Thank you, PTO exchange. I enjoyed the New Year celebrating in New York City and Peddler’s Village with my family using PTO Exchange money.”
“I’m using my PTO for my trip to Disneyland!”
Benefits of Exchanging PTO for Travel
There are several benefits of exchanging your unused PTO for travel. For one, you don’t lose your PTO at the end of the year or force yourself into taking PTO to use it up. Additionally, you’ll be able to afford your trip and most likely have extra vacation days to spare without compromising your expenses. Finally, you’ll get that vacation you deserve so you can show up as your best self at work.
Plus, you won’t have to worry about shelling out an arm and a leg for your next flight or hotel stay, so there’s that.
Take the trip you deserve without the added expense. Learn more about how you can convert your hard-earned PTO into travel with PTO Exchange. Request a demo today.