Airfares jump and hotel prices soar on World Cup demand spike

Airfares and hotel pricing rose in Canada as World Cup demand boosted travel and spilled into related markets, according to Canadian Press. StatCan said airfares jumped nearly 10% in June year over year, the largest increase since February 2023, driven by higher demand for domestic trips and higher jet fuel costs attributed to the Middle East war. The report also cites a National Bank analyst, Cameron Doerksen, who said airlines are passing higher fuel costs to customers via higher fares. Hotel prices were also reported to be nearly 7% higher than a year earlier, while May’s year-over-year bump was less than 1%. Demand extended to private aviation: in Vancouver, business jet arrivals rose 9% to 724 between June 8 and July 12, with game days lifting daily averages from 22 to 28 and reaching 41 arrivals during the July 7 match.