Expedia and ARC reveal best times to book air travel for 2018

Thailand – Expedia group and Airlines Reporting Corporation (ARC) - a leader of air travel intelligence and commerce in the travel industry - have released the findings from the fourth annual Air Travel Outlook Report. A hallmark collaboration between two leaders in air travel, this year’s report was expanded to include premium fare insights, with commentary from Egencia, the corporate travel brand of Expedia group, to uncover a broader spectrum of air ticket pricing trends for economy (economy and premium economy class) and premium fare (first and business class) travellers.

Drawing on ARC’s extensive air travel data, including average ticket prices, flight booking, departure and arrival trends between 1 September 2016 and 31 August 2017, Expedia and ARC experts analysed billions of data points for domestic and international air travel globally to identify key patterns that travellers can use to achieve airfare savings in 2018. Besides revealing tips on how and when to find the best airfare savings in the coming year, the Air Travel Outlook Report also uncovered the top drivers of air travel demand in 2018, busiest air travel hubs in 2018 along with the top sources of passenger flows for these hubs.

Chuck Thackston, ARC’s managing director of data science and research, said: “It’s well understood that consumers who possess relevant information in tune with their personal preferences before they shop, will be more confident and likely to make a final purchase. With our continued strong relationship with Expedia, including Egencia, ARC is able to provide these broad-based insights on travel around the world – both leisure and corporate – that supports the continued growth of air travel and the travel industry as a whole. The ability to see what is changing and provide actionable data and insights to ARC’s customers and travelers worldwide is core to ARC’s analytical capabilities.”

Key findings from the 2018 Air Travel Outlook Report include:
1. Asia-Pacific poised to be the biggest driver of air travel demand in the next two decades
Based on the International Air Transport Association (IATA)’s 20-Year Air Passenger Forecast, air travel routes to, from and within the Asia-Pacific region will see an extra 2.1 billion annual passengers by 2036, growing by an annual average rate of 4.6 percent. China is also anticipated to displace the US as the world’s largest aviation market by around 2022, while India is being tipped to surpass UK to take fifth place in 2025, with Indonesia catching up by 2030. Additionally, Thailand is anticipated to enter the world’s top 10 largest markets during the forecast period.

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