According to a report by Hopper (a travel app), nternational airfare is expected to reach a 5-year high.
Europe and Asia are at the top of the list for the priciest flights, which is being driven by lower supply, high demand, and high fuel costs.
Delta Air Lines has already stated that international flights for the summer were booked at 75% of their capacity.
If you were to plan a trip to Asia, expect a 60% price hike compared to pre-pandemic prices.
For a flight to Europe, a 24% higher price tag is expected compared to past years.
“High demand and lower supply on international routes is driving airfare to the highest levels in at least [five] years.” according to Hopper’s report.
Hotels in the U.S. are also seeing a spike in price increase with hotel bookings having a 29% increase compared to April 2022.
But if you are planning to vacation within the US this year, the average domestic flight ticket is $285.
In the US, domestic flights are down 15% compared to the same time period of last year.
Car rentals are expected to drop in price as well this summer, with 21% decrease in payment compared to last year.
Source: tinyurl.com/2ee3y4d2
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