If you’re wondering whether you should book your summer 2023 travel now, the short answer is yes.
Experts anticipate airfares to continue to increase this spring and into the summer season. However, prices shouldn’t be as sky-high as they were last year. It does look like there will be more travelers taking to the skies than ever, though, and demand isn’t showing any signs of slowing.
This combo of higher demand and less capacity means prices will remain steeper this year versus what than they might have been a few years back.
Let’s get down to business. If you haven’t finalized your summer airfare plans yet, time is of the essence. And if you’re planning on traveling abroad? Even more so!
For domestic trips, you should at least begin to monitor prices for the destinations you plan on visiting. Typically, the golden rule for summer travel is two to three months ahead of your departure date. That means if you’re going to be on holiday in August, you don’t have to book right this second, but you should be monitoring airfares and prices.
However, international air travel and flight prices are a whole other beast.
In general, you should be booking between three and five months ahead of time for flights that will take you abroad.
Certain destinations, like Australia and Asia, are especially popular right now. Don’t bide your time and make sure you get those bookings set ASAP. If you hope to check out Europe or South America, you can give yourself a little more time – but don’t drop the ball.
Remember, it’s key to work smarter – not harder. Set up flight alerts so you can track prices and ensure you’re getting the best deal. A pro tip? Create an alert after you’ve already booked. That way, in case the fare drops, you can solicit a travel credit. Talk about a win-win!
Airfares have continued to climb month over month, showing no signs of stopping. Data from the U.S. Bureau of Labor Statistics’ Consumer Price Index confirms this. The report shows a spike of nearly 26% for airfare between January 2022 and January 2023.
Inflation is another factor that impacts prices and contributes to the increases. And while demand is up across the board, labor shortages mean supply is lower than the market currently needs.
While you might be able to find some sneaky deals during shoulder seasons or on long-haul business class routes, don’t expect a miracle – especially if you’re traveling between mid-June and mid-August.
Hotels are dramatically more expensive than they were last year – sometimes up to 30% more – with the steep demand and travelers willing to pay whatever necessary to get on their vacation. This has also led to many properties being totally booked up well ahead of the summer season.
