Taking domestic flights for your summer vacation might be the answer if you're looking for a cheap getaway this year. However, the cost of flying further afield is more expensive than ever, research has revealed.
Data from travel company Hopper shows that flights to Europe are down 8% compared to this time last year, but remain 15% higher than at this time in 2019. Airfare to Asia this summer is averaging 45% higher than at this time in 2019 as capacity continues to recover on transpacific routes. The average ticket to Europe costs $947 and an average flight to Asia costs more than $1,500.
But it isn’t all bad news, U.S. domestic flights are 6% cheaper than last summer, and airline fares fell 3.6% from May to June, according to the most recent CPI report from the Bureau of Labor Statistics.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
However, while domestic fares are lower, other aspects of summer travel will remain high. The price for lodging, including hotels and motels, is up 1.7% over the past month and down 1.7% since May 2023, according to the CPI. Additionally, the cost of food away from home was up 0.4% over the prior month and up 4.0% since May 2023. You can use NerdWallet's travel inflation price tracker to view how various travel prices have changed compared to pre-pandemic prices.
Here are all the details on why domestic flights are cheaper and which destinations are trending this year.
Why Are Domestic Flights Cheaper Than Last Summer?
Now is a great time for a vacation in the U.S. even if it’s an airfare away, as flights are 6% cheaper than last summer, according to Hopper. This summer marks the first year since 2020 where prices have dropped compared to the previous year. Here's a look at the best summer travel deals of 2024.
So, why have international flights gone up in price while domestic flights are cheaper? Hopper puts it down to a couple of things: greater airline capacity this summer and lower jet fuel prices.
The average price of a domestic flight currently stands at around $305, which is down from last summer, but up modestly from pre-pandemic levels. Prices are up 6%, or about $18 from 2019 when the average price of a domestic flight was $288.
Prices for travel at peak times will vary. Hopper says over July 4th Weekend, average flight prices will be $315 per ticket, and Labor Day Weekend flights will average $302 per ticket.
If you do want to travel overseas and don’t mind spending a few more dollars, off-peak airfares to Canada have gone up by only 6% since last summer — now around $410 on average. Airfares to Mexico and Central America (average price $461) and to the Antilles (average price $453) have decreased by 8%.
Most searched destinations in the U.S.
If you’re looking for good-priced domestic flights, Hopper analyzed which destinations in the U.S. are the most searched for, along with a good airfare deal. Domestic trending destinations are mostly smaller, more off-the-beaten-track cities and towns across the US.
| Destination | Flight deal from Hopper |
|---|---|
| Hyannis, MA | $538 |
| Cody, WY | $563 |
| Bar Harbor, ME | $650 |
| Sitka, AK | $610 |
| San Francisco, CA | $275 |
| Seattle, WA | $300 |
| Miami, FL | $214 |
| College Station, TX | $687 |
| Portland, OR | $282 |
| Durham, NC | $233 |
It’s a mixed bag of destinations, from city breaks in San Francisco and Seattle to a beach vacation in Miami and hiking at Acadia National Park in Bar Harbor.
Hopper suggests flying mid-week to bag a good deal — you can save up to $51 (or an average of 18% off) per ticket on domestic airfare if you fly on a Tuesday or Wednesday. And try to book the first flight of the day, as you’re less likely to be hit by delays and cancellations.
Related Content
-
AI Is Missing the Wisdom of Older Adults: What It Means for YouAI will increasingly affect your healthcare and finances, but young workers are primarily designing the systems and getting most of the jobs.
-
The Three C's to Financial Success: A Financial Planner's Guide to Build WealthConsistency, commitment and confidence in your chosen strategy are more critical to your financial success than finding the 'perfect' financial plan.
-
The Three C's to Financial Success: A Financial Planner's Guide to Build Wealth
Consistency, commitment and confidence in your chosen strategy are more critical to your financial success than finding the 'perfect' financial plan.
-
Baby Boomers vs Gen X: Who Spends More?Baby Boomers and Gen X are guilty of spending a lot of money. Here's a look at where their money goes.
-
A Financial Expert's Tips for Lending Money to Family and FriendsWhat starts as a lifeline can turn into a minefield if the borrower ghosts the lender. Following these three steps can help you avoid family feuds over funds.
-
The 401(k) Mistake That Could Cost You Millions in Retirement SavingsThinking about reducing your 401(K) contributions in the current market? Here are six reasons why you may want to reconsider.
-
I'm an Insurance Expert: Yes, You Need Life Insurance Even if the Kids Are Grown and the House Is Paid OffLife insurance isn't about you. It's about providing for loved ones and covering expenses after you're gone. Here are five key reasons to have it.
-
7 Rules Frequent Flyers Swear ByFrom dodging long lines to avoiding bad coffee, these clever travel rules can help you save time, stay healthy and reduce stress every time you fly.
-
My Professional Advice: When It Comes to Money, You Do YouThis is how embracing the 'letting others be' and 'learning to surrender' mindsets can improve your relationship with money.
-
Five Smart Moves for Retirement Healthcare: From HSAs to Medigap PoliciesUnchecked health care costs in retirement could blow a hole in your savings. Here’s how to avoid that.
