Two years into the pandemic, travellers seem to have been making up for lost adventure opportunities as bookings continue to rise despite the inflation hitting the travel-related industries.
As pointed out by Travel Pulse, the demand outweighs the effect of inflation on vacation costs:
“In an infographic from Yahoo Finance, the Federal Reserve revealed prices over the last year have increased for several travel-related industries, including hotel rooms (25.1%), rental cars (23.4%), restaurants (6.9%) and recreation (4.8%). As part of the inflation, airline fares climbed by 10.7 percent on a monthly basis and by nearly 24 percent over last year, due in part to rising fuel costs and increased demand for travel. The CPI found that gas prices rose 18.3 percent month-on-month in March.
Travel demand has roared back, with some airlines reporting the highest ticket sales in their history. U.S. passenger traffic has averaged about 89 percent of the pre-pandemic levels since mid-February, according to Transportation Security Administration (TSA) data.”