Summer travel numbers will 'beat' pre-pandemic levels despite soaring prices: Expert
Domestic travel prices up over 20% from pre-pandemic levels, according to a report
People are 'ready to travel' even as prices soar: The Points Guy
Brian Kelly, founder and CEO of The Points Guy, offers tips on how to save money on airfare as prices continue to rise amid increased demand for travel.
Brian Kelly, founder and CEO of The Points Guy, argued on Wednesday that this summer will "beat" pre-pandemic travel numbers despite soaring prices for airfare.
"In general, we’ve seen domestic airfare shoot up dramatically and I think this summer we’ll actually beat our pre-pandemic travel numbers [of] total TSA passengers," Kelly "Mornings with Maria"on Wednesday.
U.S. consumers spent $8.8 billion on domestic flight bookings in March, surpassing pre-pandemic spending on bookings, according to Adobe.
Total consumer spending on domestic bookings in March grew 28% compared to the same time in 2019, according to the Adobe Digital Economy Index, which measures direct consumer transactions from six of the top 10 U.S. airlines.
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In the first three months of the year alone, consumers already doled out a total of $21 billion in domestic flights online. Comparatively, consumers spent a total of $56 billion on domestic flights in all of 2021, according to the data.
Brian Kelly told FOX Business flights and hotels in top destinations have been "selling out." (AP Photo/Lynne Sladky / AP Newsroom)
The data showed that as demand picked back up, so did the price of tickets. The cost for plane tickets increased 20% in March compared to 2019 levels, according to Adobe. In February, prices were 5% higher than 2019 levels. In January, though, prices were 3% lower than 2019 levels, according to the data as concerns over the omicron variant swept the nation.
Airfare skyrockets as cost of jet fuel soars
FOX Business' Jeff Flock reports on what's causing prices to soar from the Philadelphia International Airport.
In the coming months, airfare is expected to increase further as the cost of jet fuel takes off and amid the increased demand from travelers.
According to mobile travel app Hopper’s Consumer Airfare Index Report for January 2022, an average 7% increase in domestic airfare is forecasted each month until June, topping out at $315 for a round-trip ticket.
This summer will 'beat' pre-pandemic travel numbers: The Points Guy’s Brian Kelly
Brian Kelly, founder and CEO of The Points Guy, details the hottest summer travel spots and the expected cost.
On Wednesday, Kelly detailed the hottest summer travel spots, the expected cost and ways to save money.
Kelly noted that flights and hotels in top destinations have been "selling out."
"Florida is as hot as ever and more of expensive than pre-pandemic," he told host Maria Bartiromo.
Kelly then stressed the "key" is to "book now" as fares continue to rise.
"When you see an amazing deal, you’ve got to book it," he stressed. "If you wait even a day, there’s a very good chance it will go up."
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Kelly also noted that it is currently cheaper in many U.S. markets to fly to certain international locations compared to domestic destinations. He pointed to the price of a flight to Greece compared to Miami as an example.
"We’re seeing $280 airfares to Greece," he told Bartiromo.
"What I recommend is don’t go to Mykonos, which is where all the Europeans go," he continued. "Go to smaller islands off the beaten path, that’s where you are going to save money on travel."
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FOX Business’ Daniella Genovese contributed to this report.