With the end of travel restrictions, the desire for a holiday abroad increased again. It is also easier to attend international congresses and business appointments. But for both leisure and business travelers, it will become even more expensive to fly next year, after flight prices have increased significantly this year.
The increase will vary from region to region, according to a study by American Express Global Business Travel (GBT). The travel company has calculated the expected price increase based on inflation, fuel costs, available seats, and current and past reservation demand.
Especially Asia and Africa are more expensive
Asia has waited longer than other parts of the world to open after the Covid pandemic. As a result, demand for flights was low, as was prices. Now that is changing again. According to the study, up to twelve percent more will be charged for economy flights between Europe and Asia in 2023. 7.6 percent more for business flights. In addition, Russian airspace remains closed and sometimes costly diversions have to be made.
While traveling to Africa again has been easy for a while, American Express GBT expects significant price increases here as well. For flights from Europe, the average is 11.3 percent more in economy and 12.2 percent more in business.
Prices on popular routes to North America are also rising, albeit more moderately. The average price increase in both seat categories will be 3.7 percent.
Job postings have to digest the highest percentage increase in Australia, where prices rose by almost 20 percent.
Over 5 percent more for European flights
It is also more expensive for shorter distances. Flights within Europe will cost six percent (business) or 5.5 percent (economic) more. New regulations are starting to make themselves felt here as well. Example France: Due to the environmental ban on some short-haul domestic flights, up to twelve percent of previously scheduled flights will be canceled here. This income gap forces airlines to increase prices.
Another recent study by comparison portal Idealo concluded that Switzerland had the biggest impact on prices in Europe: with an average of 46 percent.