2016 Flight Predictions: Expedia and Airlines Reporting Corporation Release Second Annual Global Air Travel Outlook

Published on : Thursday, December 10, 2015

expediaExpedia, Inc., in partnership with the Airlines Reporting Corporation (ARC), today released the second annual report, Preparing for Takeoff: Air travel outlook for 2016, which analyzes global air travel data. Highlighting key trends for both consumers and air industry professionals, this report represents Expedia’s analysis of data powered by ARC as well as data from other credible industry sources.

 

Specifically, Preparing for Takeoff: Air travel outlook for 2016 found these key takeaways:

Between October 2014 and October 2015, global air ticket prices declined on average about 8 percent versus the prior year. According to ARC data, the price of travel within Europe declined the most in that timeframe, making these routes among the best potential bargains for 2016.
On the whole, the best time to purchase economy tickets in North America for travel within North America is approximately two months in advance.It is difficult to predict the best day of week to find the lowest ticket prices because airlines constantly are adjusting prices. In general, the weekend has become a likely time to achieve savings though the rule of thumb still stands: if there is a good airfare available within the traveler’s budget, buy it.
“We sit in a unique spot – among Expedia, Inc. sites alone we had over 7.5 billion air searches over the past year,” said Greg Schulze, senior vice president, global tour and transport, Expedia, Inc. “Analyzing these massive data sets with our partners at ARC gives us smart insights that we can pass along to travelers. And travelers benefit because even small, simple insights in the booking process – what time of year or day of week to book, for example – can yield significant savings.”

 

“It’s our pleasure to once again collaborate with Expedia on this important industry study,” said Chuck Thackston, managing director of enterprise information, Airlines Reporting Corporation. “Expedia, armed with ARC’s global ticketing data, provides unmatched knowledge about the state of air travel offering valuable insights for leisure and corporate travelers to use when booking flights. We look forward to continue to partner with Expedia in the future.”

 

Flight Prices to Expect in 2016
Fare changes in a previous year are often good indicators for the year to come and based on 2015 analysis, 2016 is expected to be another good year for travelers to save money as they take to the skies. Globally, with prices adjusted for exchange rates, Expedia’s analysis of ARC data found that economy air ticket prices declined roughly 8 percent year-over-year between October 2014 and October 2015, with the biggest drops in July and August of 2015. Intra-Europe flights declined the most, indicating that 2015 was a great year for air travelers in general and even better for those visiting Europe and booking flights between European countries.

 

For North American travelers, Expedia’s analysis of ARC data found more modest price drops for economy travel in North America – with an average decline of 5 percent on intra-North America flights during the first 10 months of 2015. Given these figures and further analysis, this trend is expected to continue for the first few months of 2016.

 

Source:-Expedia

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