(NEW YORK) — Prices for flights this summer have skyrocketed at unprecedented rates, and some travel experts say that travelers looking for deals should start planning for fall trips.
Domestic flight prices have jumped by 47% since January, according to an Adobe Analytics report released Thursday. The cost of domestic airfare also increased 6.2% from April to May, the report said.
“We expected to see elevated demand leading into 2022,” Patrick Brown, vice president of growth marketing insights at Adobe, said. “And consumers have been spending at twice the rate that they have over last year, but prices have grown even faster than the demand has grown.”
Brown also said the price increase “hasn’t dampened the demand for travel.”
“Despite the high increases in prices month over month, we’re seeing consumers still booking their travel while they’re looking for other ways to do it and getting creative about when to travel,” Brown said.
However, travel experts said there are still a few ways travelers can find affordable travel options or more room in their travel budget.
Scott Keyes, the founder of Scott’s Cheap Flights, said cheap flights “aren’t gone forever,” but they are for travelers looking to book this summer.
“It’s really too late to get a great deal for your summer travels, but that’s because it’s already June,” Keyes told ABC News.
Keyes said there are still “a ton of deals to be had” for those looking to book fall or winter vacations. For the same seven-day trip from Los Angeles to Maui, waiting a few months could save travelers more than 70%, according to Scott’s Cheap Flights.
“Flights on July 1 through 8 from Los Angeles to Maui are $725 roundtrip,” Keyes said. “But flights from L.A. to Maui on Sept. 1 through 8 are just $161 round trip.”
But Keyes says to get those deals, travelers need to book now.
“My recommendation is book those fall flights now while fares are really cheap and give yourself a trip on the books to look forward to that you get to daydream about,” Keyes said.
For travelers who have already booked flights or are still looking for destinations, the strength of the U.S. dollar could mean more bang for your buck in some foreign destinations, according to Haley Berg, an economist at the booking platform Hopper.
“The dollar has appreciated compared to many local currencies, Mexican pesos is one of them,” Berg said. “So many of those Central American and Caribbean countries might be more attractive to visit this summer than in previous years as well.”
The U.S. dollar’s strength will especially benefit travelers to Europe this summer, where the Euro has depreciated by nearly 15%. Berg said that even though prices for airfare to Europe are up, the dollar parity will help travelers stay in budget.
“When you’re there shopping, staying at hotels, eating out, your dollars will go about 6% further than in 2019,” Berg said.
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