International airfares are expected to fall 12% in 2024, compared to -6% year on year in 2023 and -15% a decade earlier.

According to data from the United States Bureau of Labor Statistics, airfares have dropped 6% year on year and 15% over the last decade. According to experts, airfares to international destinations may fall even further in 2024, with the American Express Global Business Travel Air Monitor 2024 report predicting a 12% drop. The decrease in fares is due to an increase in flights and routes offered by existing airlines in 2023.

March 15, 2024
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