As travel demand has reached levels never seen before over the last year, prices for flights have been quick to catch up. While airports and airlines continue to try to solve their staff-shortage issues, rising ticket fares and travel disruptions have become too familiar. Staff shortages aren’t solely to blame, as rising fuel costs and inflation have also led to increasing ticket prices.
Going into 2023, travelers can expect to pay more for nearly all travel costs, including flights. To help travelers prepare for the upcoming year, expected increases for multiple regions throughout the world are outlined below. Additionally, we’ve put together a few tips for saving money amid rising costs at the end of this article.
Looking at the year ahead, American Express has published its annual Air Monitor Report to explore what prices travelers should expect for flights in 2023. While prices aren’t predicted to rise by extraordinary amounts, some routes will see significant increases. To paint a clearer picture, world regions and expected costs are discussed separately below.
North Americans Can Expect These Flight Costs In 2023
Those living in North America have probably noticed the sharp increase in fares over the course of 2022, as the region led the world in air travel recovery. However, this quick uptake in fares during 2022 actually spells better news for 2023. Prices are still predicted to increase, but the increase will be less drastic than in areas like Europe and Asia.
To show what travelers can expect to pay, we’ll outline the expected increases for Economy and Business class for various routes and provide some concrete examples:
- North American Regional Flights
- Business Class Increase: 3.4%
- Economy Class Increase: 2.9%
- North America to South America
- Business Class Increase: 4.2%
- Economy Class Increase: 6.4%
- North America to Europe
- Business Class Increase: 3.0%
- Economy Class Increase: 2.4%
- North America to Central America
- Business Class Increase: 3.7%
- Economy Class Increase: 3.6%
- North America to the Caribbean
- Business Class Increase: 2.3%
- Economy Class Increase: 5.8%
- North America to Asia
- Business Class Increase: 6.1%
- Economy Class Increase: 9.5%
North American Ticket Prices: 2022 vs. 2023
Percentages are helpful metrics for understanding how much flights are expected to change next year. Still, real-world examples often paint a clearer picture. For that reason, we’ve outlined a few examples below using real nonstop one-way fares found on 12/18/2022 using Google Flights.
One thing to note is that the fares below reflect pricing around the holiday season, and travelers will likely see drastically different prices depending on the dates chosen. These fares simply give a more concrete example of expected price increases:
- New York to Montego Bay, Jamaica (JFK to MBJ)
- 2022: $154 Economy, $464 Business
- 2023: $163 Economy, $475 Business
- New York to Tokyo, Japan (JFK to HND)
- 2022: $2,161 Economy, $13,587 Business
- 2023: $2,366 Economy, $14,416 Business
- New York To London, England (JFK to LHR)
- 2022: $1,063 Economy, $3,730 Business
- 2023: $1,089 Economy, $3,841 Business
What About Ticket Prices In Europe?
While an international flight is a significant expense, many travelers fly to Europe intending to take regional flights once there. For years, travelers have relied on low-cost carriers in Europe to spend a few weeks checking out multiple European gems. However, travelers should expect these prices to rise as well.
In 2023, economy class fares for flights within Europe are expected to rise 5.5%, while business class fares are expected to rise 6.0%. Luckily, this doesn’t equate to a significant increase for many low-cost flights within the region. Imagine purchasing a one-way ticket from London to Madrid for $50 (they can often be found for less). In that case, you’d only be paying an extra $2.50 in 2023.
How To Save In The Face Of Rising Costs
While there is no one size fits all method for saving on flight costs, these tips are tried and true methods for ensuring you get the cheapest fare possible.
- Utilize Google Flights: Google Flights is the easiest way to search across multiple airlines, research cheap destinations to fly to, and set up alerts to let you know when fares drop.
- Travel In The Off-Season: Not only does traveling in the off-season lower travel costs across the board, you also have the added benefit of crowd-free tourist attractions.
- Check Multiple Sites: Sometimes, it makes sense to book direct, and sometimes it may cost you more. Be sure to check across sites like Kayak, Skyscanner, and CheapOair to make sure you are getting the lowest ticket price.
- Don’t Book On Your Phone: Experts say it is best not to book flights on your mobile phone due to drip pricing. These are the added fees we’ve become all too familiar with, such as adding luggage, picking a seat, or adding in-flight meals. When using a mobile phone, travelers are less likely to compare pricing across sites or carriers.
Regardless of how much flight prices are increasing, travelers are ready to get back out into the world. This year has seen unprecedented travel demand, which is likely to continue into 2023. By preparing for rising costs and utilizing cost-saving tips, travelers can still find good deals and enjoy their vacations, knowing they are getting the best value for their money.
