Many international destinations saw substantial fare reductions as visitors can now travel cheaper overseas, The Australian reported.
Greece experienced a 13.17 percent decrease in fares in the first half of 2024, compared to the same time last year, according to new Flight Centre data. An average adult economy ticket in Jan – Jun 2024 cost $2565, compared to $2954 in the period Jan – June 2023.
Italy saw a 12.74 percent drop, the US fell by 11.2 percent, and Japan’s fares decreased by 10.67 percent. Additionally, France, Canada, New Zealand, India, Fiji, and the UK recorded falling fares due to increased competition among airlines.
Travel to Bali is becoming even more affordable, as the destination fell by an average of 17.7 percent in the first half of 2024 compared to the same period last year. The average price for an economy return ticket dropped from $1030 to $848, making Bali flights cheaper than those to New Zealand, which cost $898 return.
Overall, there was an average 13 percent decline in international economy airfares in the six months leading up to June 30, with the average cost dropping from $1928 to $1678.
The introduction of Turkish Airlines to Australia has intensified competition on European routes, making travel to the continent more affordable. Similarly, increased capacity planned by United, American, and Delta airlines is expected to further reduce fares to the US in the coming months.
According to the Australian, Flight Centre Travel Group Managing Director James Kavanagh noted that airfares had decreased for four consecutive quarters, a trend they hope will continue.
He highlighted the savings, with Indonesia down 18 percent, equating to an average saving of $182; Greece down 13 percent, saving $389 on average; and Italy also down 13 percent, saving travelers $365. He added that these savings enable travelers to afford more trips or spend more on experiences abroad.
While prices haven’t yet returned to pre-COVID levels, the consistent decrease in airfares is promising. ““We’re still not seeing pre-Covid prices but it’s the fourth consecutive quarter that airfares have decreased across the board and something we hope will continue as airlines introduce new routes and bring back some familiar ones to our shores,” said Mr Kavanagh.
Source: The Australian
