Scores of travelers who are getting a tax refund plan to spend some, if not all of it, on an upcoming trip.
According to travel app Hopper, more than 50% of users expect to get money back from the government and 60% of them will spend it on a trip this year. So far, the average refund check, according to the IRS, is $2,878, down 9% compared to the average return recorded last year.
Hopper analyzed the top places around the world where travelers can stretch their returns the most given that airfare, especially to international destinations, has surged compared with last year and pre-pandemic times.
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International airfare is averaging just over $1,000 per round trip, up 33.5% compared with a year ago, according to Hayley Berg, lead economist at Hopper.
According to Hopper data, Spain and Portugal are the best spots for travelers who are looking to take a trip to Europe.
Hopper said the dollar appreciated 3.4% compared to the euro over the last four years.
Currently, flights are averaging $930 round trip to those locations. Hotel rooms are averaging $174 per night, according to Hopper data.
Argentina or Brazil, according to Hopper, are the best options for travelers looking to go to South America.
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Airfare to Argentina is 6% higher compared to pre-pandemic times. However, Berg noted that the dollar tripled in appreciation compared with 2019 "due to the rapid inflation in the country."
For instance, the greenback appreciated 31% compared to the Brazilian real in 2019.
On average, airfare to Buenos Aires will cost $1,000 round trip. Meanwhile, hotels will cost an average of $122 a night.
Airfare to Sao Paulo, Brazil, will cost just over $800 on average per round trip. Hotels cost $123 on average per night.
Berg suggested looking at trips to Norway or Sweden. Compared to the Norwegian krone, the dollar has appreciated by 24% since 2019. It also appreciated 13% compared to the Swedish krona, according to Berg.
Airfare to Oslo, Norway, is averaging about $955 round trip, down from 2019. Meanwhile, flights to Stockholm will cost an average of $900 round trip this summer.
If you're planning a trip to Asia, Berg suggested looking into India. Although airfare has risen significantly compared with pre-pandemic times, the dollar can stretch pretty far in the country.
The greenback appreciated 19% compared to the Indian rupee since 2019.
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Airfare to Mumbai is averaging $1,286 this summer and hotel rooms are averaging about $181 per night. For Delhi, airfare is averaging $1,250, with hotel rooms costing about $141 per night on average, according to Hopper data.
