While inflation has impacted prices, there is good news for travelers who have taken the long weekend to regroup and relax.
According to the recent NerdWallet Travel Price Index, airfares, car rentals, and hotel prices in July were down from the same month last year.
NerdWallet’s index reveals that hotel prices have decreased by 2.8%, while the cost of dining out increased by 4.1% in July 2024 compared to the same month in 2023.
Additionally, NerdWallet’s index shows that airfares in the U.S. dropped by 7.1% from July 2023 to July 2024.
Airlines travelers will take full advantage of the savings over Labor Day weekend.
The Transportation Security Administration forecasted that more than 17 million passengers would travel through U.S. airports, as previously reported by The Dallas Express. At DFW Airport, authorities anticipate about 1.4 million travelers, indicating a 6.4% rise from 2023. Love Field anticipates approximately 200,000 passengers will travel over the Labor Day weekend.
As optimistic as this information is, let’s maintain some perspective: overall travel expenses decreased by only 1% in 2024 compared to 2023, remaining 9% higher than pre-pandemic levels.
Whether enjoying a staycation or traveling, staying on a budget is essential.
Budget tips include such things as the following:
- Traveling during off-peak times to receive a reduction in airfare costs.
- Staying at a rental property with a kitchen to prepare your own meals and avoid eating out as much.
- Consider camping; add in a visit to a national park.
- Use public transportation.
- Find free events.
In addition to finding ways to save money, remember to follow safety tips to help keep yourself, your friends and family, and your money safe. Here are a few suggestions to keep in mind, according to the U.S. Department of State:
- To prevent theft, avoid carrying or wearing anything expensive.
- Find out where emergency services like police stations and hospitals are located nearby in case of an emergency.
- Don’t share detailed travel information on social media until you return.
- Make sure your phone and other personal devices have a “find my phone” or similar GPS tracker for emergencies.
- Tell someone you trust back home about your travel plans.
- Don’t tell strangers where you are staying.
- Secure room keys, IDs, and other personal items.
- Lock windows and doors when inside your room.
- Bring a door wedge or portable door jammer to use at night.
- Do not accept drinks from strangers.