If you’re planning on going on a sunny break this January, you may want to set aside some money right away, as waiting to book until it’s winter may prove a bigger issue than it once was (especially if you’re on a budget amid the pandemic-led global recession).
Trust us when we say that, this year, winter travel will be a luxury many will not be able to afford unless they get ahead of the curve.
Traveling is getting increasingly expensive. Largely due to the ongoing economic crisis and high inflation, it is far more challenging for the average American to go on a vacation today, whether domestically or internationally, as the costs keep piling up. This is why, now more than ever, booking early is key to avoid paying exorbitant fees.
Here is what the most recent data show us:
The Cost Of Travel Continues To Rise Along With Inflation
According to respected deal-finder website Hopper, post-summer airfares will be 17% higher than they were in 2019. This number that may not sound too alarming, but it should not be underestimated, as it can surely affect the plans of budget travelers, particularly families, who will be paying $143 more on each ticket purchased throughout the season.
That is, of course, a rough estimate and most importantly, a nationwide average. As we have seen with New York lately, some cities will be feeling the sting harder than others: in the busy Eastern Coast hub, some international routes are up by as much as 62%, making it the most expensive U.S. city for air travel by a large margin.
Prices will continue oscillating throughout winter, and according to experts, those who are planning to travel during during the period are best advised to start looking for deals now. Scott Keyes from Scott’s Cheap Flights is one of those encouraging vacationers to ‘look ahead to those winter holiday flights’.
For Keyes, customers risk seeing further price hikes the longer they wait to book, especially when inflation, coupled with the overwhelming pent-up demand for travel, keeps causing the cost of travel to skyrocket. He then proceeded: ‘When are swimsuits on sale? In the winter. When are coats on sale? In the summer. It’s the same idea with winter holiday flights‘.
The Longer You Wait, The Harder It Will Be On Your Wallet
Furthermore, a joint study by CWT, a travel management company, and the Global Business Travel Association, travelers should expect airfares to continue on an upward trend for the remainder of 2022 and into 2023. This seems to corroborate other data suggesting travel will get steadily costlier in winter, following a brief reduction in the fall.
This new projection, which focuses mainly on business travel, but still offers an insight into air travel trends, estimates that 2022 will see a 48.5% increase in prices overall, compared to previous years. Additionally, 2023 will rise by 8.5%, totaling a staggering 57% for the post-Covid era compared to previous years.
In other dispiriting news, it’s not just more expensive tickets that need to be taken into account:
Hotel Fares Are 33% More Expensive In The US
Hotels and tourist accommodation in general will be another decisive factor. CWT is predicting hotel rates to be 18.5% more expensive this year, and another 8.2% in the next, for a combined 26.7%. To put it simply, those looking for rooms at the last minute will pay the highest possible rate due to the cumulative inflation.
In the popular winter hotspot of Miami, hotel stays already cost 55.6% more in April and May than they did compared to the same period in 2019, being the worst-affected domestic destination out of all the surveyed markets. In the wider U.S., a 33% uptick was noted. As assessed by the CWT, ‘the cost of labor, food and beverage, and energy are all going to drive hotel rates up‘.
So yes: if you’re dreaming of that beautiful all-inclusive in early January, or simply making plans to visit family over Christmas now that most social restrictions have been axed, you better make a reservation immediately. Luckily, there is an incredible tool that makes finding international flights for under $200 much easier.
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