“Words! Words! Words!, I’m so sick of words!,” Eliza Doolittle sings in “My Fair Lady.” As for me, I’m just the opposite. I’m fascinated with words. I enjoy learning new words to better express myself and when I encounter an unfamiliar word I look it up as soon as possible.

It’s interesting to notice when new words are added to the language. “Staycation” is a new word gaining currency that I learned recently from a friend. Staycation refers to taking a vacation and either staying at home or taking a very short trip. More Americans, surveys show, are choosing staycations as a result of the economy, with high gas prices and soaring airfares among the chief complaints.

In addition to saving money, a staycation gives you a chance to see attractions in your vicinity that you have never found time to visit. For my part, I’ve never been to Graceland or Shiloh National Military Park, scene of one of the most crucial battles of the Civil War. (It’s historic, but the name Shiloh seems odd for such a bloody battle, considering that in Hebrew the word means “peace.”) Nor have I seen the home of Alex Haley, who enthralled millions with the story of his ancestors in “Roots” and spurred a widespread interest in genealogy. We can all benefit from learning more about our heritage and the history of things that are part of American culture. People from other areas travel long distances at great expense to see places in our own backyard.

Not only has the economy reduced U.S. vacations, but also with the dollar’s exchange rate down, trips abroad are no bargain, either. Consider what is involved in a regular vacation—packing luggage, the hassle of airport ticket counters and security lines or a hectic drive on crowded highways leading to expensive hotels and restaurants.

Things that could be done while staying at home: bond with your significant other, visit well-known restaurants in the area for the first time, spend quality time with the family, experience fun things with the children, read, learn to play a musical instrument or new game, plan a cookout for friends and family, visit a museum, exercise.

Grammarians call “staycation” a portmanteau word, one formed from two others, such as smog (from smoke and fog), while those less inclined to such distinctions term it a buzzword.    

We may link fine dining to an elegant restaurant in another city but a gourmet meal could be prepared at home. If you don’t know how, take a cooking class. We need not forget that a restful night’s sleep could just as well be in the familiar bed at home as in a hotel room. Plan the days to ensure time is well used. Keep a budget, as you would likely do on a real vacation.

While a staycation may be a compromise, it is better than not taking time off from work at all. A 2007 survey by the Hudson Highland Group, a professional staffing and management company, indicated that more than 50 percent of respondents failed to take all their vacation time and about 30 percent used less than half the time to which they were entitled. People gave many reasons for not taking all their time, including fears they might be perceived as not totally committed to the job, concerns about being laid off, and the likelihood they wouldn’t learn about something that happened while they were away.

The failure to take enough time for rest and recuperation can lead to burnout and stress. Experts say a proper balance between life and work is necessary for peak performance. Americans have been called the workaholics of the world because on average we take less time off than people in most other industrialized nations.

What’s wrong with staying at home? Besides all the other things, home is a place of refuge. Otherwise we wouldn’t rush to get there as soon as the workweek is over.  

Merriam-Webster has added the word staycation to its dictionary. No matter how you feel about grammar and linguistics, I am promoting the word that a staycation can be immensely enjoyable. Indeed, the words of the song are true: “Be it ever so humble, there’s no place like home.”

(George E. Hardin worked as a photographer, reporter and editor, and in public relations during a long career before he retired. His column appears every other week.)