The One Thing That's Not More Expensive Right Now Is Travel

New data shows that the prices for travel in January 2024 are down from last year.

Listen, debt, food, and rent might be dropping a cartoon anvil on most US budgets right now, but thankfully, there is one part of life that is not getting more expensive. According to NerdWallet’s new Travel Price Index the overall cost of travel is down 1% in January 2024 compared to the same time in 2023.

While the overall prices are only down by one point, certain sectors of the travel industry are down even more. The cost of car rentals in 2024 are down 14.1% compared to January 2023, and airfare is down 6.4%. Overall, airfare prices have dropped 3% compared to January 2020.

Once you get to your destination, the cost of everything isn’t likely to be cheaper, however. The cost of entertainment is up 5.2%, dining out is up 5.1%, and hotels and motels are up 0.7%, compared to January 2023. Since 2020, the average price of hotels has dramatically increased, jumping more than 17% by January 2024.

Looking ahead, it's likely we will continue to see this trend of lower travel costs continue into 2024. In data shared by Kayak, overall airfare prices are down by 3% for the month of March, compared to March 2023. And for April, prices are even lower. Average April airfare is down by 8% in 2024, compared to April 2023.

So, while you’ll want to keep getting crafty in regards to booking your accommodations (camping is on the rise), you can at least rest a little easier knowing that booking your next flight isn’t likely to be as expensive as it was last year.

For other tips on how to save money on travel in 2024, check out Thrillist’s complete guide.

Looking for more travel tips?

Whether you need help sneaking weed onto a plane, finding an airport where you can sign up for PreCheck without an appointment, or making sure you’re getting everything you’re entitled to when your flight is canceled, we’ve got you covered. Keep reading for up-to-date travel hacks and all the travel news you need to help you plan your next big adventure.

Want more Thrillist? Follow us on Instagram, TikTok, Twitter, Facebook, Pinterest, and YouTube.

Opheli Garcia Lawler is a Staff Writer on the News team at Thrillist. She holds a bachelor's and master's degree in Journalism from NYU's Arthur L. Carter Journalism Institute. She's worked in digital media for eight years, and before working at Thrillist, she wrote for Mic, The Cut, The Fader, Vice, and other publications. Follow her on Twitter @opheligarcia and Instagram @opheligarcia.