Synopsis: Recently, the data has shown that airfares, rental cars, and hotel room prices have gone up from 12% to 46% in 2022 compared to 2019. However, in the last few months, the prices were relatively lower than what it was in the starting year.
If you are planning a trip after a long hiatus of two years then get ready to lose your money because traveling is going to be expensive. Especially, in western countries where energy crises are hitting severely, ramping up the prices of airways. Not only the prices of airfares but gas prices are also hitting an all-time high in US and European countries.
Recently, the data has shown that airfares, rental cars, and hotel room prices have gone up from 12% to 46% in 2022 compared to 2019. However, in the last few months, the prices were relatively lower than what it was in the starting year. Nevertheless, the prices are still high and the future predictions of further price soar are a matter of concern.
This has impacted majorly on the travel sector as these higher prices discourage people from traveling more around the world. Many people are opting for inexpensive places to travel in the world.
The pandemic has hit airlines severely because international flights were halted that compelled airlines to cut staff leading to unemployment and a stew. Now that countries have lifted up pandemic restrictions and international flights have started to again pick up the pace, the number of flights still needs to match the number in 2019.
The festive seasons are coming and more people are gearing up to travel to the best places in the world to celebrate festivals. Many people will travel back home to celebrate festivals with their family and friends. Therefore, the high prices will only discourage them and halt them from taking decisions. Thanksgiving and Christmas are also the major celebration in the world where people will travel more.