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Experts say this year could be the most expensive ever for travel

After saving some of that trip money for the past year, travel experts believe this could be one of the most expensive years for vacations ever.
Credit: United Airlines

According to a recent survey from 'Quicken,' almost 50% of people plan to take longer vacations and spend extra money while traveling.

Not to mention, about half of respondents plan to take more than one trip during the year as well.

 However, those trips may cost them more than ever before.

According to the latest data from the Consumer Price Index, prices for hotels are up 44% from last year and airline tickets are up 24%.

Booking app Hopper said this is the first year they expect domestic flight prices to rise across the board. Currently, the average round trip domestic trip is around $247. However, estimates say that the price could climb up towards $281 by the end of the year.

One of the major changes in travel this year are rental car prices. According to the May Consumer Price Index, rental prices are 70% higher than even the pre-pandemic prices from the year prior. 

Travel experts tracked numerous categories in the travel sector and found that all of them have grown in price – except international airfare.

Places close to the U.S. like Iceland and Portugal have some deals that are better than domestic flights this summer. Experts say the rising cost of gas is driving up many of those faraway destinations - so consider a wide range of places and you might get a better vacation deal overall. 

Other tips that may save you money according to experts include booking travel for midweek (Wednesdays usually have the best prices), allowing for layovers or connections, and double checking bag fees for carriers.

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