BANGKOK 20 February, 2019: Air fares increased by around 5% in 2018 according to findings released in the latest Expedia Group and Airlines Reporting Corporation’s 2019 Travel Pricing Outlook study.
The 2019 Travel Pricing Outlook [1] draws on sophisticated analysis of the Airlines Reporting Corporation (ARC) Global Air and Expedia Group’s lodging-trend data that gives insights on how to unlock travel savings.
The report’s findings suggest now is the best time to book 2019 travel as fares are likely to increase.
Findings also illustrated how flight bookings made for Thailand increased by more than 10.9% (from 7,067,955 to 7,836,846) with Hong Kong travellers contributing close to 11% of the overall figure, with Singapore and US travellers in second and third place, respectively.
Time-based travel savings tips for Thailand-based travellers: Book three weeks in advance to your flight date to enjoy the best savings.
Wait until the weekend to book flights to unlock fare savings. Best day of the week to
Most expensive day of the week to book your flight is on a Friday, with prices reaching more than 5%.
Start your flight-journey on Friday to save close to 5% while Sunday is the most expensive day to travel with prices more than 5% higher.
Add a Saturday night to your mid-week trip to save more on fares to and from Thailand.
ARC managing director of data science, Chuck Thackston says that for around three-quarters of trips, travellers who extend a weekday trip to include a Saturday night stay can access quantifiable savings.
“The savings opportunities quantified by extending mid-week travel over a weekend is a new and valuable finding for travellers. The industry has talked about bleisure for a while now, but we have been able to actually quantify real savings for travellers around this concept.”
While travellers may save money by booking a basic fare (seat-only, no bag and potentially other limitations), it pays to choose carefully. If bags are added to a basic fare, the cost of travel almost always exceeds that of other economy fares where checked bags are included in the cost of the ticket.
Should travellers delay booking a trip if oil prices rise?
The short answer is no. When airline fuel prices jump, travellers need not delay booking a trip based on the assumption that fares will immediately rise. Comparing commodity price and ATP trends over many years shows the days and weeks after a commodity price jump may actually be the most cost-effective window to book flights, as any effect that fluctuation may have on ATPs is more likely to appear over a longer time period.
[1] This new report represents the fifth collaboration between the two global travel data powerhouses, Expedia Group and ARC, with report data and analysis based on ARC’s view of more than 295 million passenger air travel trips in 2018, and additional insights based on Expedia Group’s platform view of more flight and global lodging demand. Refer to report for full data sourcing and relevant data notes.
