Travel demand has surged this year, although not everyone can afford the sky-high tab.
Along with rising costs for hotels and rental cars, travelers can expect to pay up to 39% more for a round-trip flight around Christmas compared with last year, according to data from the travel booking app Hopper.
Young adults, in particular, are shifting their holiday getaway plans accordingly, a recent report found.
One in 10 said they won’t travel home for the holidays because their parents can’t pay for it.
Inflation has made it even harder for those just starting out, who are now squeezed by the surging cost of living and sky-high rents.
Increasingly parents are chipping in — and not just over the holidays.
However, parents are also feeling stretched too thin.
Of all U.S. adults planning to travel, 79% are changing their plans due to high inflation, another Bankrate.com report found, including shortening their trips, choosing cheaper accommodations, traveling shorter distances or driving instead of flying.
How to save on holiday travel
For example, travel on Christmas Eve or Christmas Day to snag cheaper fares, she said. Otherwise, opt for smaller, regional airports instead of major hubs, cash in credit card miles or make a connection rather than fly nonstop.
“But really the best thing you can do is act fast,” McCreary said.
“Don’t wait to buy your airline tickets,” she cautioned. “Prices will not get better.”
CNBC’s Select also has a full roundup of tips to save money on your upcoming trips.
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