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Here's Why Flight Prices Will Increase Again After 2021
Although travel has pretty much stopped across the globe, airlines are doing what they can to make up for the lost revenue in the meantime. For those that follow flight deal websites and social media pages, you’ve seen the drastically reduced prices for routes both domestically and internationally.
But, will those low price deals last once this pandemic slows down and things begin to fall into place?
Travel experts at Dollar Flight Club, have been studying similar travel trends to get an idea on what the flight prices, as well as travel demand, will look like in the coming years.
As far as how much we will pay for flights, based on trends from post 9/11 as well as the Great Recession of 2008, it looks somewhat promising. Based on those two historical events, airlines dropped fares, baggage fees, and other miscellaneous add-ons to attract travelers to purchase flights.
It is being predicted that the same will happen this time around. It looks like we will continue to see the low price airfare (with prices being reduced by more than 30%) throughout 2020 and into 2021. This is only if airlines begin to pick back up by early summer.
On the flip side, once things have settled, it is being predicted that prices will begin to increase on average by 27% into 2025. We may see another increase in baggage fees as well as cancellation and change fees to help recoup some of the money lost by the major airline carriers.
When and where are travelers planning to go first?
While it’s still uncertain if 2020 summer travel will even be a thing, travelers are still making plans just in case.
According to a survey of 100,000 active travelers, 80% canceled any travel that was scheduled for April and May. But, 60% of them admitted that they would travel between June and December if the travel restrictions ease up.
Out of this same population of surveyed travelers, it was found that more than 40% would prefer domestic travel over international travel for now. Additionally, over half have Hawaii as their top vacation choice.
For those that do want to fly international, Paris was number one on places to go first.