2024 Tax Return Guide: How to get the most bang for your buck?

It’s that time of year again when (most) taxes have been filed and returns begin to hit American’s bank accounts. Many Americans already know how they will spend their returns - on their next trip! A recent survey of Hopper users revealed 43% of users expect to receive a tax refund and 62% of users getting a refund will spend some, or all, of the refund towards travel this year. 

According to the IRS, the average tax refund for 2023 is $3,050 as of Mar. 29th, an increase of 4.8% over last year. In total the agency has already refunded nearly $61 million in tax overpayments. (source: IRS)  Though the average refund is higher this year than at this time in 2023, 3.3% fewer Americans are eligible for refunds this year. As a result, travelers are looking to stretch their travel budgets (and tax returns) further this spring and summer, and here’s how.  

Where to go to stretch your dollar the furthest?

Portugal

Portugal is our favorite destination for an inexpensive European vacation, just a few hours flight from the east coast of the US. Airfare to destinations in mainland Portugal are averaging just over $900 per round trip ticket, with fares to Lisbon down 8% from this time last year. Fares to the Azores, Portugal’s subtropical volcanic islands in the North Atlantic, are down substantially compared to last year and 2019. 

When you’re on your trip, the cost of accommodations, food and drink are generally lower in Portugal than in many other European countries. In Lisbon, you can eat out for three meals a day for under $75, even less if you trade in a sit down meal for a quick coffee and pastel de nata. Public transport within cities is easy, and inexpensive, and the occasional taxi won’t break the bank. If you’re thinking of making any large purchases while in Portugal, don’t forget about the VAT refund. Value Added Tax (VAT) is added to purchases in Portugal but is refundable for American travelers taking their goods home at the end of a trip. Just bring your receipts to the airport and find a kiosk to process your refund! 

Though airfare may be close to $1,000 per ticket on average, fares from some US cities are substantially lower.

Fares are available on Hopper for as low as:

• Portland, Oregon to Lisbon, Portugal for as low as $590 round-trip on Hopper

• Boston, Massachusetts to Ponta Delgada, Portugal for as low as $530 round-trip on Hopper

• Washington D.C., to Porto, Portugal for as low as $513 round-trip on Hopper

• Boston, Massachusetts to Terceira Island, Portugal for as low as $580 round-trip on Hopper

Hungary

Budapest is famously one of the most budget friendly destinations in Europe. The low cost of living in Budapest combined with the use of the Hungarian Forint means most American dollars will stretch much further than they might in other European countries. Most travelers can expect to spend $50 per day on food, drink and activities. For those travelers on a very tight budget, Budapest offers a wide range of accommodations from hostels to luxury hotels to meet your budget needs. 

Though airfare may be close to $900 per ticket on average, fares from some US cities are substantially lower.

Fares are available to book in Hopper for as low as:

• Newark, New Jersey to Budapest, Hungary for as low as $560 round-trip on the Hopper app

• Chicago, Illinois to Budapest, Hungary for as low as $560 round-trip on the Hopper app

• New York City, New York to Budapest, Hungary for as low as $561 round-trip on the Hopper app

• Detroit, Michigan to Budapest, Hungary for as low as $600 round-trip on the Hopper app

• Boston, Massachusetts to Budapest, Hungary for as low as $607 round-trip on the Hopper app

Though some tourist establishments may accept Euros, most Hungarian businesses will expect you to pay in Hungarian Forints, so come prepared with the right currency if you plan to use cash! 

South America

Looking for an international trip without the burden of 6+ hours of jetlag? Look south! Destinations across South America offer a combination of culture and adventure which is perfect for travelers on a budget. Enjoy the beaches of Colombia, climb to new heights at Machu Picchu, immerse yourself in the art and culinary scene of Buenos Aires or explore everything from the Atacama to Patagonia in Chile. If you’re eyeing an adventurous getaway with warm weather, swap the Caribbean or trip abroad for a trip to South America.

These countries each offer tourists a range of history, culture, access to incredible UNESCO World Heritage sites and much more. The best part? Traveling, staying and eating out in all of these countries is more affordable than most other regions of the world! 

Fares are available to book on Hopper for as low as"

• Orlando, Florida to Bogota, Colombia for as low as $170 round-trip on the Hopper app

• Columbus, Ohio to Bogota, Colombia for as low as $215 round-trip on the Hopper app

• Washington D.C., to Lima, Peru for as low as $348 round-trip on the Hopper app

• Austin, Texas to Lima, Peru for as low as $370 round-trip on the Hopper app

• Austin, Texas to Buenos Aires, Argentina for as low as $575 round-trip on the Hopper app

• Newark, New Jersey to Santiago de Chile, Chile for as low as $620 round-trip on the Hopper app

• Chicago, Illinois to Santiago de Chile, Chile for as low as $630 round-trip on the Hopper app

• Los Angeles, California to Buenos Aires, Argentina for as low as $685 round-trip on the Hopper app

Vietnam

Airfare to Vietnam is high relative to some other destinations worldwide but the low cost of traveling within the country makes Vietnam a budget friendly destination for most travelers. Even better, the US dollar has risen in value by ~9% compared to the Vietnamese Dong over the last 5 years, meaning your travel budget can stretch even further than in previous years. With the average price of a restaurant meal for 2 averaging about $25 and luxury hotels for as little as $100 a night, you can pack an incredible trip into your travel budget in Vietnam. 

Though airfare may be close to $1,400 per ticket on average, fares from some US cities are substantially lower. 

Fares are available to book on Hopper for as low as:

• San Francisco, California to Ho Chi Minh City (Saigon), Vietnam for as low as $810 round-trip on the Hopper app

• Chicago, Illinois to Ho Chi Minh City (Saigon), Vietnam for as low as $860 round-trip on the Hopper app

• New York City, New York to Ho Chi Minh City (Saigon), Vietnam for as low as $869 round-trip on the Hopper app

• Los Angeles, California to Hanoi, Vietnam for as low as $860 round-trip on the Hopper app

• Newark, New Jersey to Hanoi, Vietnam for as low as $880 round-trip on the Hopper app

• Seattle, Washington to Hanoi, Vietnam for as low as $890 round-trip on the Hopper app

Depending on your preferences, you can find accommodations for as little as a few dollars (think a $10 hotel!) or splurge on five stays with luxury brands for a fraction of the cost in other regions of the world. 

Tips to stretch your dollar further on an international trip:

• Notify your bank and credit card companies before leaving the country to ensure you’ll have access to your funds, and understand any fees associated with using your cards or an ATM abroad.

• Plan ahead! Many banks will allow you to order local currency before a trip, and will usually offer a better exchange rate than an airport cash exchange service and won’t charge additional fees you might incur using ATMs abroad.

• When possible, pay in the local currency (including when you use your credit card!) when making purchases abroad to ensure you’re getting the best exchange rate and price.

• Stay off the beaten path! Tourist heavy cities and towns are likely to have inflated prices for food, accommodations and more. Head somewhere more local, off the beaten path, to find restaurants and shops offering lower prices.

Consider a Staycation! 

Looking to skip out on airfare or gas costs for a road trip somewhere new? Staycations are a great way to get more bang for your buck, and to support local businesses. Kick back and enjoy all of the amenities your local hotels can offer! Hotels and B&Bs will often offer special rates for residents of the town or state to incentivize these residents to invest in their local economy. These rates can be found on online travel agencies, the hotel’s own website or if you call the hotel directly. 

Tips to get even more bang for your buck when you stay: 

• Book at the last minute to get the lowest rates, as hotels will typically lower prices as check in approaches and they are looking to fill empty rooms. Booking in the last 12-48 hours before check in can usually save travelers significantly on a weekend or weekday stay. 

• Skip the Saturday Night Stay: Travelers who check in on Friday or Saturday and stay through Sunday will pay a 20% - 23% premium over the cheapest day of the week to check in. In major cities like New York or Las Vegas, you can pay as much as 2-3x more just to check in on Saturday! Skip the weekend stay and pack on the savings. 

• Consider a Day Pass: Interested in checking out the amenities at another hotel nearby? Some hotels, especially those in leisure destinations offering pools or beach access, will offer day passes to interested travelers. Pay a small fee for access to the hotel’s property and amenities for a set period of time (usually all-day)! For luxury resorts or hotels, this is a great way to experience the amenities of a more expensive property without paying for an overnight stay (especially on a weekend!). Check the hotel’s website for this option, or call, before you visit. 

How to lower the overall cost of your trip?

• Travel on the cheapest dates to save as much as 15% on flights, 23% on hotel stays. 

  • Domestic: For travelers flexible on when they fly, aiming for midweek departures for domestic flights is a simple way to save an average of $45 per ticket, or about 15%. Sunday will be the most expensive day of the week to depart on a trip and is typically a busy day in airports as travelers head home from weekends away.

  • International:  For travelers headed on longer haul trips, skip the Friday or Saturday departures to kick off your travel and instead aim for an early in the week start. Travel to the Caribbean and Mexico is cheapest if you depart early to mid week, Tuesday or Wednesday to save the most on airfare. 

  • Accommodations: For travelers booking accommodations, skipping the weekend stays can offer huge savings off pricey hotel rates. Travelers who check in on Friday or Saturday and stay through Sunday will pay a 20% - 23% premium over the cheapest day of the week to check in.

  • Pro Tip: Use Hopper’s color-coded calendar to plug in the destinations you're eyeing and the app will show you the cheapest days to fly (in green) and the most expensive days to avoid (in red) to help you save the most.

• Start monitoring prices for domestic flights at least 3-4 months before you plan to depart. Prices will change frequently, but drop on average until about 1-2 months before departure. Expect to book 1-2 months ahead of your departure date! Don’t wait too long to book, prices can increase by almost double in the last 3 weeks ahead of takeoff. 

  • Pro-Tip: Use Hopper’s Price Watch tool to monitor the price of any trips you’re dreaming of. We’ll monitor the price of your specific trip (destination, dates, even preferences around non-stop flights!) and let you know when prices are dropping to their lowest!

• Start monitoring the price of your international trip 7-8 months before departure. International trips, especially those longer haul transatlantic or transpacific ones, will require planning further in advance. Expect to book trips to Asia and Oceania the furthest in advance, anywhere from 5-7 months before takeoff. Travelers headed to other regions of the world can expect to book anywhere from 3-6 months before departure to get the best prices. 

• Take the first flight out (before 9am): Flights departing after 9am are 2X more likely to be delayed than departures scheduled between 5-8am. To avoid travel disruption and potential costs associated with delays, missed connections and cancellations fly as early in the morning as possible.

Deals for Summer 2024 trips you can book right now on Hopper:

Domestic

• Boston, Massachusetts to Myrtle Beach, South Carolina for as low as $73 round-trip on the Hopper app

• Boston, Massachusetts to Orlando, Florida for as low as $91 round-trip on the Hopper app

• Chicago, Illinois to Nashville, Tennessee for as low as $70 round-trip on the Hopper app

• Chicago, Illinois to Denver, Colorado for as low as $80 round-trip on the Hopper app

• Dallas, Texas to Las Vegas, Nevada for as low as $88 round-trip on the Hopper app

• Dallas, Texas to Jacksonville, Florida for as low as $89 round-trip on the Hopper app

• Los Angeles, California to Denver, Colorado for as low as $90 round-trip on the Hopper app

• Los Angeles, California to Salt Lake City, Utah for as low as $90 round-trip on the Hopper app

• New York City, New York to Charleston, South Carolina for as low as $50 round-trip on the Hopper app

• New York City, New York to Charlotte, North Carolina for as low as $70 round-trip on the Hopper app

• New York City, New York to Nashville, Tennessee for as low as $80 round-trip on the Hopper app

• San Francisco, California to San Diego, California for as low as $70 round-trip on the Hopper app

• San Francisco, California to Phoenix, Arizona for as low as $88 round-trip on the Hopper app

Europe

• Boston, Massachusetts to Reykjavik, Iceland for as low as $439 round-trip on the Hopper app

• Boston, Massachusetts to Copenhagen, Denmark for as low as $509 round-trip on the Hopper app

• Chicago, Illinois to Stockholm, Sweden for as low as $550 round-trip on the Hopper app

• Chicago, Illinois to Paris, France for as low as $571 round-trip on the Hopper app

• Chicago, Illinois to Split, Croatia for as low as $582 round-trip on the Hopper app

• Dallas, Texas to Madrid, Spain for as low as $617 round-trip on the Hopper app

• Dallas, Texas to Zurich, Switzerland for as low as $638 round-trip on the Hopper app

• Dallas, Texas to Edinburgh, United Kingdom for as low as $689 round-trip on the Hopper app

• Los Angeles, California to Stockholm, Sweden for as low as $562 round-trip on the Hopper app

• Los Angeles, California to Copenhagen, Denmark for as low as $564 round-trip on the Hopper app

• Los Angeles, California to Dublin, Ireland for as low as $611 round-trip on the Hopper app

• New York City, New York to Riga, Latvia for as low as $488 round-trip on the Hopper app

• New York City, New York to Split, Croatia for as low as $500 round-trip on the Hopper app

• New York City, New York to Bergen, Norway for as low as $505 round-trip on the Hopper app

• New York City, New York to Zurich, Switzerland for as low as $510 round-trip on the Hopper app

• New York City, New York to Gdansk, Poland for as low as $511 round-trip on the Hopper app

• San Francisco, California to Milan, Italy for as low as $582 round-trip on the Hopper app

• San Francisco, California to Madrid, Spain for as low as $610 round-trip on the Hopper app

• San Francisco, California to Lisbon, Portugal for as low as $621 round-trip on the Hopper app

• San Francisco, California to Barcelona, Spain for as low as $655 round-trip on the Hopper app

• San Francisco, California to Budapest, Hungary for as low as $663 round-trip on the Hopper app

Asia & Oceania

• San Francisco, California to Nadi, Fiji for as low as $750 round-trip on the Hopper app

• San Francisco, California to Sydney, Australia for as low as $860 round-trip on the Hopper app

• Boston, Massachusetts to Singapore, Singapore for as low as $1110 round-trip on the Hopper app

• Boston, Massachusetts to Bangkok, Thailand for as low as $1134 round-trip on the Hopper app

• Chicago, Illinois to Bangkok, Thailand for as low as $961 round-trip on the Hopper app

• Chicago, Illinois to Phuket Town, Thailand for as low as $985 round-trip on the Hopper app

• Chicago, Illinois to Sydney, Australia for as low as $1033 round-trip on the Hopper app

• Dallas, Texas to Hong Kong, China for as low as $1202 round-trip on the Hopper app