Travel price now

High gas prices and rampant inflation have changed many Americans’ outlook on travel this summer, but a recent survey found that average travel costs are down overall compared to the pandemic and pre-pandemic years.

Travel insurance company Squatmouth.com said the average trip cost in early July was around $5,300, down from $5,800 in 2020 and $6,000 in 2019. The data also shows that domestic travel costs more than international vacations for the second year in a row.

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According to the survey, the average cost of domestic travel is about $500 more than international travel, and travelers under 50 spent $400 more per trip compared to 2019.

Travel agent John Maddox said: “While there has been some relief on prices, I have noticed a reluctance to book due to fuel prices and airfares. “Airline No. 1 is holding back the global resort business. It’s forcing customers to book shorter cruises. People aren’t ready to book until 2023 because of the uncertainty in the current economic climate.”

Additional data from InsureMyTrip shows that travelers are paying less for vacations in some of the most popular destinations, with average travel costs in the United States dropping from $4,066 to $4,042 for Week 1 and Week 28.

In Mexico, the average cost of a trip fell from $3,809 to $3,631, while a vacation in the Bahamas dropped from $3,754 to $3,284.

While travel costs appear to be trending in the right direction, prices are still higher than last year and before the pandemic. In the year The average cost in 2022 was $5,051, up from $4,405 in 2021 and $4,767 in 2019.

“I’m very pleased that both airline and cruise fares continue to be more affordable,” said cruise specialist Scott Lara.

According to a MasterCard report, “runaway inflation” is affecting the spending habits of low-income customers, including travel purchases. Data shows that cardholders are shifting their priorities from big-ticket items to essentials and groceries.

MasterCard reported its strongest summer travel season since the start of the pandemic, thanks to increased demand and the easing of coronavirus-related restrictions. Cross-border volumes also jumped 58 percent in local currency in the second quarter, while dollar volumes across the company’s network increased 14 percent to $2.1 trillion.

“What you’re seeing in the United States is a declining trend in terms of growth rates in lower incomes,” said Sachin Mehra, MasterCard’s chief financial officer.

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