Travel prices finally starting to moderate after skyrocketing post pandemic

Travel prices finally starting to moderate after skyrocketing post pandemic

Would you believe that airfares rose an amazing 72% in 2022 after the pandemic? Add to that hotel price increases of 30% and the daily cost to attend business meetings a whopping 58%. That was the finding of a recent report issued by GBTA. The good news for travelers is that the 2023 global travel costs have increased a moderate 2% for airfares, 4% for hotels and 5% for daily meetings. Now the 2024 global travel costs are pouring in and once again airfares are anticipated to only rise about 2%, hotels 4% and 3% for daily meetings. Car rental rates are also expected to go up about 2%. The bottom line is that the travel inflation we have witnessed the last two years is finally starting to moderate. And if the economy stutters my guess is that prices for international travel may see a slight drop in prices. HERE is a good article about travel cost predictions for 2024.

Please don’t miss our BIG News! – The Weekly Travel Alert is now available with a video podcast on YouTube and other social media platforms. CLICK HERE to watch this week’s first episode. You can watch or just listen. I think you will really enjoy it.

Hotels win a big battle in New York City to shut down many short-term rentals on Airbnb – On September 5, 2023, New York City is requiring all short term rentals listed on sites like Airbnb, to be registered. This is causing thousands of short-term rentals to be taken off rental sites until they can be registered. Some are estimating as many as 70% of short-term rentals will no longer be available under the new rules. Many families use these short-term rentals to lower the cost of visiting the Big Apple. We understand that over 3000 Airbnb rentals are waiting in line to be approved, however, the government is backed up and it may take many months for that to happen. CLICK HERE to read more.

China finally drops requiring a COVID test before entering country – This past April my son Matt and I flew into Hong Kong on our way to Guangzhou, China to attend the Canton Fair. Hong Kong was the easiest way to get into China at the time as you had to show a negative COVID test within 24 hours of arrival. Requiring a COVID test to get into China basically requires you to add an extra day in Hong Kong. This past week China announced that visitors are no longer required to take the test which will allow for a late HKG flight arrival, a nice visit to the night market, to pick up a $15 Rolex watch, a stay at one of the glamorous 5-star hotels and then an early morning high speed train ride into China. It has been over three years since China locked down visitors. This is one more step to “Normal” for travel to China. CLICK HERE to read more.

Travel this past Labor Day weekend was expected to increase 11% according to TSA – The Transportation Security Administration is predicting it will be a record setting Labor Day weekend this year with an anticipated 11% increase in air travelers compared to a year ago. It also promises to lift total travelers for the year above those pre-COVID 2019 numbers. I am so glad we are finally heading into the fall with the hope that season reduction in air travel will give us some breathing room in airports and in airplanes. CLICK HERE for details.

Airline will soon offer an adult only section on their flights – Corendon Airlines , in November, will begin testing out a new premium, adults-only zone limited to travelers sixteen and above on flights between Amsterdam and Curaçao. Most Americans have never heard of Corendon Airlines as it is based in Turkey and has a limited number of flights. Many travelers have long whined about having to sit next to crying babies on a long flight. Now for $49 you can have a seat in a section with no children around. I will be surprised if this program takes flight. It is one thing to complain about listening to a crying child. It is quite another to pay $49 to not have to. Besides, a good set of earbuds or headset can accomplish the same thing. CLICK HERE for more.

One of the best travel magazines to read is Virtuoso Life. This publication is available in digital format on the right hand side of the Weekly Travel Alert email page. Executive Travel is a member of an exclusive group of Luxury travel companies that belong to the Virtuoso network. Every two months Virtuoso publishes Virtuoso Life Magazine. The new issue for September is hot off the press and it offers stunning pictures and articles from travel around the world.  You will think I am crazy but I even enjoy reading the advertising as much as I do the articles. Reading Virtuoso Life really makes you desire to travel the world. Enjoy.

I am heading to Israel next spring to celebrate Palm Sunday and I hope you will join me – I would like to invite you to our new Biblical Wonders of Israel Tour, March 19 – 27, 2024. Christians around the world put Israel at the top of their travel bucket list. This tour will have special significance as it will be held and feature being in Jerusalem on Palm Sunday, which is the week before Easter, and Christians celebrate Jesus’ triumphal entry into Jerusalem. Our tour will allow you to walk the path where Jesus rode his donkey and the crowds cheered, “Hosanna! Blessed is he who comes in the name of the Lord!” Our tour will also be completed in time for you to return home and share your once-in-a-lifetime experience with family and friends on Easter Sunday. CLICK HERE to see a brochure or call our office at 402-435-8888 to speak with one of our friendly advisors.

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