Travel in the U.S. Will Be More Affordable Next Year, According to Kayak

Kayak’s recent travel predictions point to travel costs dropping significantly throughout the U.S. in 2024. It has taken several years for the air travel industry to bounce back since the COVID-19 pandemic, but those days may be over, according to Kayak.

Their newest report suggests that domestic airfare will drop by as much as 16% next year. This report indicates that the travel industry continues to recover since it has suffered since 2020. Kayak’s study shows that domestic flights, car rentals, and hotel room rates will all decrease in cost next year.

Domestic travel costs also reduced in 2023 compared to 2022. According to Kayak, it will cost an average of $461 to fly domestically next year. This makes it easier for families to travel, and it will also encourage travelers to buy upgrades they otherwise wouldn’t be able to afford.

Kayak’s respondents have said that they are more interested in premium seats on flights for the rest of the year and through 2024. These projections and trends show that while prices are going down, travelers are more ready than ever to spend money on air travel.

While it’s exciting that domestic travel will decrease in cost, international travel is sadly expected to become more expensive. The cost of international flights is expected to increase by 10% in 2024. This news comes at bad timing as international travel is quite desirable right now, and Asian destinations like Hong Kong and Tokyo are expected to be popular in 2024.

While international flight prices don’t seem like they will go down, you can save money if you book your flight 7 to 9 months beforehand. Booking ahead of time can help you save up to 18% on your tickets when you travel internationally.

Drops in airfares and car rental prices will encourage domestic travel. Car rentals are expected to be 14% cheaper next year, and hotel room rates will drop by 9% in the U.S. as well, according to Kayak. While it’s too bad that the same can’t be said for international travel, 2024 is the perfect time to fly around the United States.