Airfare from US to Europe reaches highest level in 6 years
Trips to Europe in September and October are averaging 33% less than current summer prices
Travelers are looking for both ‘entertainment and relaxation' in their vacation: Brett Keller
Priceline CEO Brett Keller joined ‘Cavuto: Coast to Coast’ to discuss the state of the travel industry as airlines brace for a busy Memorial Day weekend.
Airfare to Europe is surging to highs not seen in the past six years. Still, it's not deterring travelers.
Flights from the U.S. are now averaging more than $1,200 per round trip this summer, according to data from travel app Hopper. That's 12% higher than last summer and up 23% from 2019, the data shows.
In some instances, round trips to spots such as Venice, Munich and Amsterdam are averaging as much as $1,400.
Though it's still cheaper than flying to Asia. Prices to fly to the continent from the U.S. were already averaging $1,817 per ticket in May, which was up 62% compared to pre-pandemic levels, the data showed.
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Travelers should also anticipate facing some sticker shock when it comes to European accommodations, Hayley Berg, lead economist of travel app Hopper, said in its latest travel release.
Travelers go through security at San Francisco International Airport on May 25, 2023. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
European hotel prices are surging with rates averaging $205 per night. That's a 37% uptick from this time last year. However, in some countries, like Rome and Madrid, prices are notching over 63% and 41% higher than this time last year.
However, "Americans are still flocking to Europe," Berg said.
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Demand to Europe has outpaced pre-pandemic growth rates by as much as 20% since late April. The top three busiest airports are expected to be London Heathrow, Amsterdam Schiphol and Frankfurt, all of which are seeing more than 30% of flights delayed.
Travelers go through security at San Francisco International Airport on May 25, 2023. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
Hopper noted that prices for flights to Europe throughout June, July and August will only continue to rise from here on out, so travelers should book immediately.
To help soften the financial blow, Hopper suggests booking flights on Monday or Tuesday because it could save travelers upward of $135 per ticket.
Some places off the beaten path such as Reykjavik, the capital of Iceland, the Portugal city of Porto, or Dublin, Ireland, will also be cheaper to fly in to. The cost to fly to such spots is currently sitting around or under $1,000 per round trip ticket, according to the data.
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If travelers can be flexible, trips to Europe in September and October are currently averaging 33% less than summer prices. On average a round trip ticket is sitting at about $700, according to Hopper data.