ARC and Expedia Release 2017 Annual Global Air Travel Outlook
SAN JUAN – Airlines Reporting Corp. (ARC) and online travel company Expedia Inc. have released a study of worldwide air travel trends: New Heights for Air Travel: Understanding the Realities of Dropping Ticket Prices and Surging Capacity.
The study includes an analysis of “hundreds of millions” of airline tickets to “spot trends that can be used to book air travel with intelligence in 2017,” a release announcing the study reads.
ARC provides travel agency accreditation services, process and financial management tools, and data that include nearly 12.5 billion passenger flights. According to the company, it settled $88.3 billion worth of carrier ticket transactions in 2015 for more than 9,400 travel agencies with 13,000 points of sale.
Some of the study’s revelations include:
- Economy class average ticket prices are generally falling worldwide to their lowest point since 2013.
- Travel between these regions saw the biggest price drop: South America to Southeast Asia, South America to Southern Europe and China to Southern Europe.
- Out of 500 of the top destination airports, José Martí International Airport in Havana, Cuba, represents the greatest percentage change (up 53 percent) in arriving travellers on commercial flights from 2015 to 2016.
- Weekends are when the least expensive tickets are booked, while Fridays are when the most expensive tickets are purchased. For travel with origins and destinations within the United States, Sunday is when the lowest ticket prices are booked; an average of 11 percent lower compared to Friday.
- Purchasing air tickets in the U.S. at least 21 days in advance can potentially save about 34 percent to Europe and 17 percent domestically.
See the ARC-Expedia study here.
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