Topline
The record-high airfares of summers past may be behind us, as experts report domestic airfare for travel this fall is down 29% from its summer peak and the average ticket prices for international travel have fallen as low as 40% below average for some destinations.
Key Facts
Domestic airfare is down an average of $87 per ticket for the fall compared to June, July and August, Haley Berg, economist at Hopper, told ABC News, pointing to a boom in international travel she said came with the end of Covid-related travel restrictions this summer.
In its fall travel forecast, Expedia data analysts said average ticket prices for domestic flights booked in mid-August were already 10% lower than they were during peak summer months, Expedia reported, and international flight prices have fallen around 5% on average—though some destinations are cheaper than others.
In the U.S., average ticket prices are down 35% for travelers to Juneau, Alaska, almost 25% for Seattle trip takers and 20% for trips to Denver, Chicago and Los Angeles. Internationally, flights to Oslo in Norway have fallen 40%, Ibiza, Spain tickets are down almost 35% and tickets to Tokyo, Florence and Paris are roughly 20% cheaper than they were at peak summer prices.
Expedia said travel for the week of Oct. 24 is booking the cheapest—nearly 20% lower than peak summer prices domestically and 15% cheaper internationally.
Berg said travel prices for end-of-year travel will be the lowest between Sept. 15 and Oct. 15.
Contra
While airfare may be down, the travel rewards team at NerdWallet warns that a few key trip taking expenses cost more this summer than they did a year ago, according to the most recent data from the Bureau of Labor Statistics. The cost of lodging was up 7% this July when compared to the same month last year, as was the price of dining out. Rental car prices were down 7% from this time last year but were still 37% higher than they were pre-pandemic. Entertainment costs, like going to the theater or seeing a concert, were up 4.7% year over year.
Tangent
Expedia’s forecast also showed this fall’s trending destinations. Based on flight searches on the website, the most popular international destinations are Hong Kong, where searches are up 1,500% over last year, Frankfurt, Germany (up 280%), Taipei, Taiwan (up 260%) and Osaka, Japan (up 210%). Domestically, flight searches are up for Savannah, Georgia (155%), Seattle (+75%), Salt Lake City (50%) and Boston (+45%).
Big Number
12%. Air travel demand was up 12% in July compared to the same month last year, according to the U.S. Travel Association, and total travel spending is up 4.1% year-to-date through July 2023.
A kayaker explores a glacier near Juneau, Alaska.
Universal Images Group via .
Further Reading
Why Marriott, Hyatt And Other Hotel Giants Are Going All In On All-Inclusive Resorts (Forbes)
Mystery Vacation Planners, Ski Resort Upgrades And Other Travel News (Forbes)
The Best New Hotels Opening This Fall (Forbes)
The Caribbean’s First ‘Ocean Pool’, A Culinary Road Trip Through Napa And Other Travel News (Forbes)
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