Summer travel is likely to remain hot, so book early
Travel experts say they aren’t seeing any dip in travel demand for the busy summer season or shoulder seasons, but people will likely spend a lot more money this year to take their vacation
By SAM KEMMIS of NerdWallet
Published - Mar 22, 2023, 09:12 AM ET
Last Updated - Jun 22, 2023, 02:45 PM EDT
Travel last summer was, in a word, wild.
Pent-up “revenge” travel combined with relaxed restrictions caused a surge in demand. High fuel prices and limited airline capacity drove up costs, with overall travel prices increasing 17% over pre-pandemic levels by June 2022, according to NerdWallet’s Travel Price Index.
What about this summer? Will weakening demand lead to lower prices and thinner crowds? It’s not looking likely, according to travel experts.
“We aren’t seeing any dip in demand,” says Hayley Berg, lead economist at Hopper, a travel booking platform. “It seems incredible that the demand could be sustained, but we’re not seeing any weakness right now.”
