Photo Credit: Photo Credit: Ervin Lukacs
Tax Return Tourism: The Best Places To Visit With Your Tax Refund
The Hopper travel app has found that over 50% of its users anticipate receiving a tax refund from the government this year. Sixty percent of those individuals are planning to spend it on a trip. According to the IRS, the average refund check is currently $2,878, a 9% decrease from last year’s average return.
Due to the surge in airfare compared to pre-pandemic times, particularly for international destinations, Hopper has analyzed the best places around the world where travelers can get the most value for their returns.
Hopper’s data suggests that Spain and Portugal are the top European destinations for travelers seeking a trip. This is primarily because the dollar has appreciated by 3.4% compared to the euro over the last four years, making these destinations relatively more affordable. Presently, the average round-trip airfare to these locations is $930 and the average hotel room costs $174 per night, according to Hopper’s data.
Hopper suggests that Argentina or Brazil are the top choices for travelers interested in visiting South America. Despite a 6% increase in airfare to Argentina since before the pandemic, the value of the dollar has tripled compared to 2019 due to inflation in the country. Similarly, the dollar appreciated by 31% compared to the Brazilian real in 2019.
On average, a round trip to Buenos Aires costs $1,000, while hotels cost $122 per night. In comparison, airfare to Sao Paulo costs just over $800 round trip, and hotels cost an average of $123 per night.
Norway and Sweden also make the list of recommended destinations for your tax refund travel plans. The dollar has appreciated by 24% compared to the Norwegian krone since 2019 and by 13% compared to the Swedish krona, according to Hopper.
The average round-trip airfare to Oslo, Norway these days is approximately $955, which is lower than the 2019 prices. Similarly, flights to Stockholm, Sweden are expected to cost an average of $900 round trip this summer.
For those planning a trip to Asia, consider a visit to India. Despite the significant increase in airfare since pre-pandemic times, the dollar can provide good value in the country. The dollar has appreciated by 19% compared to the Indian rupee since 2019.
This summer, the average airfare to Mumbai is $1,286, and hotel rooms are averaging about $181 per night. Similarly, airfare to Delhi is averaging $1,250, with hotel rooms costing an average of $141 per night, according to Hopper’s data.