Why Traveling Is About to Become Much More Affordable

Securing a great airfare deal in early 2022 proved challenging. According to the Bureau of Transportation Statistics, airfares in the first quarter were up 17 percent year-on-year. However, prices began to decline in June and July, and fortunately, forecasts for fall airline ticket prices suggest that travel will soon be even more budget-friendly.

Travel booking platform Hopper indicates that average round-trip domestic airfares for September and October have decreased by 37 percent to $238—$142 lower than average summer domestic round-trip fares and 3 percent below 2019 rates. International round-trip airfares for these months have also fallen to an average of $754, reflecting a 19 percent decrease (or $179) from summer prices.

“Flight and hotel demand tends to dip each August as Americans return to school and work after summer vacations. As demand wanes, airlines and hotels reduce prices to stimulate bookings during this quieter period. This low-cost window between the peak summer season and the expensive holiday travel time is referred to as the fall shoulder season, offering fantastic deals for budget-conscious travelers,” Hopper explained in its Fall Shoulder Season Travel Guide.

Although the pandemic disrupted traditional booking and pricing trends, like peak summer and holiday airfares versus lower rates during slower shoulder periods (in late winter, spring, and early fall), Hopper's new data indicates a return to more conventional booking behaviors and pricing structures.

The decline in prices will likely be a much-needed relief for travelers dealing with the impact of inflation on their everyday expenses. The air travel experience hasn't been ideal either—flying in the first half of 2022 was not only expensive but also plagued by cancellations, delays, lengthy airport lines, and a significant amount of lost luggage.

Fortunately, alongside the easing of prices, airline performance has also shown improvement. In July, only 1.6 percent of scheduled flights were canceled, a drop from 2.7 percent in June, according to flight tracking service FlightAware.

For those seeking a good domestic deal this fall, heading West may be the best option. Hopper reports the following U.S. destinations are seeing the largest price reductions:

• San Diego: average round-trip fares at $252, down $230 from summer averages
• Portland, Oregon: average round-trip fares at $314, down $218 from summer averages
• Seattle: average round-trip fares at $301, down $191 from summer averages
• Los Angeles: average round-trip fares at $246, down $189 from summer averages

Regarding international travel, several attractive European cities and island destinations are experiencing the most significant price drops, according to Hopper.

• Grenada, Spain: average round-trip fares at $483, down $460 from summer averages
• Zurich, Switzerland: average round-trip fares at $691, down $275 from summer averages
• Prague, Czech Republic: average round-trip fares at $704, down $299 from summer averages
• Male, Maldives: average round-trip fares at $1,183, down $431 from summer averages
• Bali, Indonesia: average round-trip fares at $1,389, down $465 from summer averages

Hotel prices are also decreasing this fall, with the largest drops in average nightly rates reported by Hopper for Maui, Hawai‘i (average of $572 per night, down $365 from summer); Nashville, Tennessee ($207 per night, down $122 from summer); and Pensacola Beach, Florida ($303 per night, down $135 from summer).

On a global scale, destinations with the most significant declines in average nightly rates include Providenciales, Turks and Caicos (average of $545 per night, down $265 from summer); Mykonos, Greece ($228 per night, down $136 from summer); and Paradise Island, Bahamas ($330 per night, down $120 from summer).

To secure the best airfare deals, Hopper advises booking at least three weeks in advance for domestic travel and four weeks ahead for international trips. Departing on a Tuesday or Wednesday could save you over $35 per flight, and midweek hotel bookings can also lead to savings.