Definition of 'Staycation'
A vacation spent at or near your own home, rather than traveling to another location. People take staycations for many reasons, including but not limited to, saving money, avoiding travel, and taking advantage of and enjoying what is available in their own city.
Investopedia explains 'Staycation'
As fuel costs increase, travel to distant locales becomes increasingly more expensive. These higher travel costs are the reasons that some people choose to staycation, rather than vacation. Setting up a tent in the backyard, could be just the rest and relaxation that is needed, and is an economical solution to traveling by car to the nearest national park or recreation area.
It isn't just fuel costs that make people not want to travel. Threats of terrorism, has made international travel much more agonizing, as vacationers deal with added security, long lines and new visa requirements. A romantic evening in a hotel just down the street from a couple's home, could be a lot less stressful than planning and taking that holiday abroad.