Airplane tickets have risen by 25% in the last year. Now that the travel industry is picking up its pace, fuel prices keep increasing and there are shortage of labor, prices are soaring to a remarkably high cost for customers, making cheap flights even rarer and demanding deeper planning regarding the budget for everyone.
As things are starting to get back to normal, prices are simply following the high demand for flights. As a result, people are beginning to travel again in vast quantities. After a two-year gap due to the pandemic, tourists are once again feeling safe enough to flock to the airports, hotels, and cities in a short time, following the decision that all events will move forward this summer without restrictions in Hawaii.
According to the TSA checkpoint statistics, the 14th of May of 2019 saw just an extra 111,403 passengers in the airports compared to the same day of 2022 (2,091,116 and 1,979,713, respectively), indicating that the travel industry is tightly close to matching the pre-pandemic levels in the United States.
The law of demand and supply is one of the most crucial laws in economics. According to the Bureau of Labor Statistics, the prices rose 20% more in April alone. The exceptionally high demand worldwide for airplane tickets naturally pushes the prices up, but it’s not the only factor compelling it.
Gas prices are also skyrocketing worldwide. Therefore, it is one essential product for raising or lowering ticket prices. A high fuel price and higher demand are notable factors for increasing the costs, and surprisingly, what’s making the gas prices higher is the same factor: high demand for flights.
Politic and economic factors also play an important role in gas prices, but also there is a third factor: a shortage of pilots. It impacts major U.S airlines, and some even canceled flight routes, such as Sun Country; therefore, many variables influence these new prices.
Some experts are giving hints about how to book a flight. However, it’s almost impossible to predict how the prices will be, so if you see a flight with a reasonable price, it’s recommendable to buy it on the spot. The algorithm follows your IP address, so the next time you look for the same flights, prices can be 10 to 40% higher, according to Jerry Agrusa, UH Travel Industry Management professor.
Depending on the time, algorithm, and circumstances, the same seat can have many prices. According to Wendy Goodenow, the owner of HNL Travel Associates, there is not a specific day or time for cheaper seats. These are highly variable and will change in the blink of an eye.
However, one tip seems to be significantly effective: always buy in advance. Preparing your trip is an important task, especially in Hawaii, which has some issues regarding tourism. Not only are airline tickets rising, but hotel rates are skyrocketing due to high demand. Furthermore, nature can be extreme, and the islands are suffering from mass tourism.
COVID-19 seems not to be dulling people from traveling. Consequently, tourism is very close to reaching pre-pandemic levels. A high demand, high fuel prices, shortage of pilots, and political and economic issues are some of the factors pushing prices up in many areas of our lives, especially in the aviation industry. Booking and planning in advance can help immensely, but it’s essential to know that many aspects influence these prices.
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