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, he increase is being driven by a combination of lower supply, high fuel costs (which especially impact long haul routes), and high demand. In fact, Delta Air Lines noted last month its international flights were already 75 percent booked for the summer.
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), while 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 is driving airfare to the highest levels in at least [five] years.”
Additionally, the rise in airfare is also being felt to a somewhat lesser extent with within the U.S.
When it comes to domestic travel, flights are averaging $285 per ticket, according to Hopper. That’s actually a 15 percent decrease from the same time period last year, but 1.4 percent increase from April 2019. Those prices are also expected to rise and peak in June to average $328.
Flights aren’t the only thing travelers should expect to shell out more money for this summer. Hotels in the U.S. are also trending more expensive, averaging 29 percent more compared to April 2022. And those who want extras like the ability to bring their pets along for the ride should expect to pay even more — 30 to 51 percent more per night.
But the good news is car rentals are actually 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 are down about 10 percent compared to this time last year.