1. Current Airfare Trends
International airfare is expected to reach a 5-year high, with the priciest flights being to both Europe and Asia.
According to a report by travel app Hopper, the increase is being driven by a combination of lower supply, high fuel costs (which especially impact long-haul routes), and high demand. Moreover, Delta Air Lines noted last month that its international flights were already 75 percent booked for the summer.
2. Rising Ticket Prices
The price of a plane ticket to Asia is currently 60 percent higher than pre-pandemic, with a “good deal” coming in at more than $1,600. Meanwhile, the cost of a flight to Europe is 24 percent higher compared to the same time period, with a “good deal” still totaling more than $1,000.
“International travelers are in for some sticker shock this year,” according to Hopper’s report. “High demand and lower supply on international routes are driving airfare to the highest levels in at least [five] years.”
3. Domestic Travel Costs
Additionally, the rise in airfare is also being felt to a somewhat lesser extent within the U.S. When it comes to domestic travel, flights are averaging $285 per ticket, which is actually a 15 percent decrease from the same time period last year, but a 1.4 percent increase from April 2019. Consequently, those prices are expected to rise and peak in June to average $328.
4. Accommodation and Other Costs
Flights aren’t the only thing travelers should expect to spend more on this summer. Hotels in the U.S. are also trending more expensive, averaging 29 percent more compared to April 2022. For those wanting extras like the ability to bring their pets along for the ride, costs should be expected to rise even further—30 to 51 percent more per night.
5. Positive Trends in Car Rentals
However, the good news is that car rentals are expected to be cheaper this summer, down 21 percent compared to last year, according to the report. Car rentals will cost travelers an average of $38 per day, while gas prices have decreased about 10 percent compared to this time last year.
