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Summer is over. Here's how it went, according to the data

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Sun, Sep 4, 2022 12:04 PM

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The nights are drawing in, Pumpkin Spice lattes are back at Starbucks and the kids are, finally, ret

The nights are drawing in, Pumpkin Spice lattes are back at Starbucks and the kids are, finally, returning to school. It must be Labor Day, [Bloomberg]( Follow Us [Get the newsletter]( The nights are drawing in, Pumpkin Spice lattes are back at Starbucks and the kids are, finally, returning to school. It must be Labor Day, and the symbolic end of summer. If this 2019 poll is anything to go by, most Americans are feeling pretty happy about this. But, despite everything that’s happened over this summer — [disease outbreaks](, [record heatwaves](, [the ongoing war in Europe]( — people have really made the most out of the season this year. Some Americans probably took a staycation and played Pickleball, the US’s fastest-growing sport. According to the Sports & Fitness Industry Association, [4.8 million Americans were “picklers” in 2021](, with the sport growing at an average of 11.5% annually for the past five years. Others took to the skies and vacationed abroad, presumably making [the most of the strong US dollar](. At this point in the pandemic, it’s worth asking why the number of travelers hasn’t been even higher. After all, US consumers haven’t shied away from spending on other stuff, such as clothes and going out to eat: There’s a couple of reasons. First and foremost, airports have been a chaotic mess. Adam Minter notes that US-based airlines [canceled]( more than 100,000 flights between January and July in 2022, surpassing the same period in pre-Covid 2019. For those that decide to fly this summer, that’s been a headache and a wallet-drain, as they fight for refunds and replacement transport. Airlines should watch out though, some German lawmakers want to abolish advance purchase fares entirely, and replace them with tickets that are charged to passengers only at check-in. [Hopefully that means the days of gouging customers are coming to an end](. Secondly, [people hoping to travel to America are being held up by long waits for visas](. A Colombian family hoping to visit Disney World right now might have to wait more than two years to get the prerequisite travel documents. That’s holding back the US economy, say the Editors, plus, in that time, who knows how much tickets to Disney World might have increased by. Over the past fifty years, the cost of peak season tickets have surged by an insane 4,442%. It’s no wonder that the wealthy are avoiding commercial airlines more than ever. In Europe, [private-jet use has surged]( by almost a third in recent months compared to pre-pandemic levels. That’s stoked a political backlash in France, where green politicians have called for a ban on so-called business aviation. Chris Bryant agrees that wasteful trips ought to be curbed to cut carbon emissions, but suggests that a ban would backfire. It’d be [better to make the wealthy pay more for the privilege]( and use those funds to pay for much needed innovation in the aviation sector. It was an especially spendy summer for Americans and Brits alike, Andrea Felsted writes. Total retail sales in the UK [rose 2.3% in July]( from the year earlier, as shoppers stocked up on summer staples, like rosé, ice cream and electric fans. However, the chill in the air is likely to put a freeze on spending. With the triple threat of soaring inflation, an energy crisis and looming recession, [there are signs that shoppers are starting to hold back](. Andrea notes that while Kohl’s has issued a profit warning and Nordstrom cut its full-year outlook, Walmart was seeing wealthier customers make more frequent trips to its stores as they traded down. Americans have been finding more ways to cut their grocery bills. The coming winter is certain to be dismal for Europeans — you only need to read [this column]( from Javier Blas to realize why. But people will find ways to endure it. As [Andrea points out](, Brits tend to protect their winter holidays by any means necessary. Sure, there’ll be some trading down. Maybe houses won’t be so illuminated while [electricity costs 148% more than last winter](. But there’s still some lost celebrations to make up for. In dark times, we all need something to look forward to. More transitional reads: Tyler Cowen argues that 2022 may be remembered as the year when [living standards in the US pulled away from those in Western Europe](. Back to school also means back to Westminster for UK MPs, [this time with a new boss — probably Liz Truss](. Therese Raphael takes a look at what that might mean for Brexit. More data from Bloomberg Opinion: Pakistan will struggle to recover from [the devastating floods that have killed more than 1,200 people](. David Fickling explains why. [Where does Biden rank among all the US presidents in terms of economic growth](? Justin Fox figured it out. Notes: To contact the author of this newsletter, email Lara Williams at lwilliams218@bloomberg.net. This is the Theme of the Week edition of Bloomberg Opinion Today, a digest of our top commentary published every Sunday. Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( [Ads Powered By Liveintent]( | [Ad Choices]( Bloomberg L.P. 731 Lexington, New York, NY, 10022

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