According to Hopper’s Consumer Travel Index for quarter two of 2023, budget international flights are at a much higher price this year when compared to the same time last year.
Hopper defined “budget flights” as fares that are less than 90% of all the other fares it tracks. The cheap travel app then compared the prices to those from quarter two in 2022 and quarter two in 2019.
The study found that roundtrip budget flights to Europe have risen 35% while flights to Asia have gone up 23% when compared to this time last year.
When compared to pre-pandemic levels, flights to Europe are 24% more expensive and flights to Asia are up by 61%.
Hopper economist Hayley Berg expanded, “Prices are also up compared with last year, though to a lesser degree, for travel to other parts of the world. The lone exception is South America, where budget ticket prices are averaging 2% less than last year and 10% less than 2019.”
But domestic travel may offer some relief as domestic roundtrip flights are down 15% with Hopper forecasting these fares to remain stagnant or slightly drop throughout 2023.
Travel Weekly found that high demand post-COVID and high capacity levels seemed to be fueling the increased prices for flights to Europe and Asia with a drop in jet fuel prices by around 40% contributing to a decrease in domestic flight costs.
Accommodations unfortunately have also risen in 2023, up 29% from April 2022.
Check out the graph below to see how budget flight prices have changed so far in 2023 across the globe:
Featured image from Spirit Airlines, second image from Hopper Q2 2023 Consumer Travel Index
