BOSTON – As the peak summer travel season concludes, many are beginning to plan their holiday trips. CBS News Travel Editor Peter Greenberg emphasizes the importance of booking flights soon, particularly for Thanksgiving. “Every day you wait to purchase your ticket, airfares will increase by about 4%,” he warns.
Currently, airlines are experiencing lower booking levels, prompting them to offer more competitive prices for available seats. Greenberg suggests that if you have unused vacation time, now could be an ideal opportunity to travel.
Why are airfares declining after a record summer season? Greenberg attributes this trend to the upcoming election year. “Every four years, people tend to fly less during this period due to uncertainty. It’s not a partisan issue; it’s an election issue,” he explains. Additionally, many travelers are facing high credit card bills from their earlier trips, with interest rates hovering around 26%.
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