Traveling this summer?Expect higher international airfares but cheaper domestic airfares
According to travel-booking app Hopper, Americans planning to fly this summer can expect cheaper domestic fares and higher international fares.
Average ticket prices for flights within the United States fell from $376 last summer to $306, peaking around $349 around the 4th of July holiday. forecastBy comparison, tickets abroad cost between $1,000 and $2,000, Hopper said, as more Americans visit foreign destinations such as Rome, Seoul and Istanbul.
Clint Henderson, editor-in-chief of travel news site The Points Guy, told CBS Moneywatch, “Many people who have been unable to travel due to the pandemic have decided that this is one thing they really want to do once lockdown is over. He said. “People have been accumulating travel money, points and miles for years, and are ready to spend it to go to new places. Some haven’t seen their family in years, but now is going on a trip.”
Much more expensive to fly abroad
Hopper said international airfares are projected to reach their highest level since 2019, before the pandemic halted most vacation travel. and jumped $300.
Average ticket prices to Europe will be around $1,100 per ticket, up significantly from $861 in 2019, and average prices to Asia will exceed $1,800 per ticket, from $1,121 in 2019, Hopper said. is. The average flight ticket to Africa or the Middle East will rise to about $1,454 from $1,236 in 2019, while travel to Australia and neighboring countries will rise to an average of $1,709 from $1,128 in 2019, the app predicts. I’m here.
Hopper economist Hailey Berg said there are three reasons why international travel is so expensive. First, jet fuel costs have skyrocketed since the pandemic, with airlines passing some of the additional costs onto travelers. The cost of jet fuel this month is about $91 per barrel, compared with $15 per barrel in May 2020, according to the International Air Transport Association. data.
“Fuel costs have improved significantly over the last 15 months, but prices remain at their highest since late 2014,” Berg said in a statement. It will continue to put upward pressure on long-distance international airfares.”
Airlines have also not increased the number of seats on their planes despite rising demand, further pushing up prices. He said Americans are eager to travel abroad as it will be the first full summer to lift.
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According to travel-booking app Hopper, Americans planning to fly this summer can expect cheaper domestic fares and higher international fares. Average ticket prices for flights within the United States fell from $376 last summer to $306, peaking around $349 around the 4th of July holiday. forecastBy comparison, tickets abroad cost between $1,000 and $2,000, Hopper said, as more Americans visit foreign destinations such as Rome, Seoul and Istanbul. Clint Henderson, editor-in-chief of travel news site The Points Guy, told CBS Moneywatch, “Many people who have been unable to travel due to the pandemic have decided that this is one thing they really want to do once lockdown is over. He said. “People have been accumulating travel money, points and miles for years, and are ready to spend it to go to new places. Some haven’t seen their family in years, but now is going on a trip.”
Much more expensive to fly abroadHopper said international airfares are projected to reach their highest level since 2019, before the pandemic halted most vacation travel. and jumped $300. Average ticket prices to Europe will be around $1,100 per ticket, up significantly from $861 in 2019, and average prices to Asia will exceed $1,800 per ticket, from $1,121 in 2019, Hopper said. is. The average flight ticket to Africa or the Middle East will rise to about $1,454 from $1,236 in 2019, while travel to Australia and neighboring countries will rise to an average of $1,709 from $1,128 in 2019, the app predicts. I’m here.
Hopper economist Hailey Berg said there are three reasons why international travel is so expensive. First, jet fuel costs have skyrocketed since the pandemic, with airlines passing some of the additional costs onto travelers. The cost of jet fuel this month is about $91 per barrel, compared with $15 per barrel in May 2020, according to the International Air Transport Association. data.
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“Fuel costs have improved significantly over the last 15 months, but prices remain at their highest since late 2014,” Berg said in a statement. It will continue to put upward pressure on long-distance international airfares.”Airlines have also not increased the number of seats on their planes despite rising demand, further pushing up prices. He said Americans are eager to travel abroad as it will be the first full summer to lift.
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Christopher J. Brooks
Christopher J. Brooks is a reporter for CBS Moneywatch, covering business, consumer and financial topics ranging from economic inequality and housing to bankruptcies and the sports business.
https://www.cbsnews.com/news/airplane-ticket-prices-this-summer-2023/ Traveling this summer?Expect higher international airfares but cheaper domestic airfares