Post-pandemic "revenge travel" continues to go strong; 27 percent of US adults are willing to go into debt to travel, according to a Bankrate survey. Hopper Lead Economist Hayley Berg joins Yahoo Finance’s Wealth! to discuss current travel trends.
Berg reports that demand remains strong, especially on higher-priced transatlantic and transpacific routes. Buoying this trend, the economist notes travelers are seeing better prices: fares for transatlantic routes to Europe are down 10% year over year, while domestic airfare is down 3% year over year.
Pushing off milestones like buying homes and children, Gen Z and millennials are spending an increasing percent of their wallets toward travel, Berg adds.
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