Prices for flights, car rentals and hotels may have peaked last year, but they haven’t come down much, and there's no relief in sight.
Pent-up “revenge” travel combined with relaxed restrictions caused a surge in demand. High fuel prices and limited airline capacity drove up costs, with overall travel prices increasing 17% over pre-pandemic levels by June 2022, according to NerdWallet’s Travel... This article is reprinted by permission from NerdWallet. Pent-up “revenge” travel combined with relaxed restrictions caused a surge in demand.
Tap to View Overall trip prices remained 15% higher in January 2023 compared with January 2020, before travel plummeted because of the pandemic. “We are expecting domestic airfare to peak around $350 on average,” Berg says. “That’s about 10% lower than last year but 10% higher than 2019 prices.” “What we’ve seen consistently is that people are booking a lot more last minute,” Berg says. “For domestic airfare, that’s three to four weeks in advance, where it would have been closer to six to eight weeks in advance before the pandemic.”
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