BELLEVUE, Wash., Dec. 12, 2017 /PRNewswire/ -- Today Expedia and ARC, a leader of air travel intelligence and commerce in the travel industry, released the findings of the fourth annual ARC Air Travel Outlook Report, a hallmark collaboration between two leaders in air travel. The report also features commentary from Egencia, the corporate travel company of Expedia, on the business travel aspect of the findings.
Expedia and ARC experts analyzed flight data, drawing on billions of data points for domestic and international air travel globally to identify patterns travelers can use to find airfare savings in 2018. The report (download in full here) reveals how travelers can gain real value for money by being strategic about not only when they book a flight, but when they start their journey. It also reveals trends savvy leisure and corporate travelers can use to pay less for seats in the "pointy end" of a plane.
Chuck Thackston, ARC's managing director of data science and research, stated: "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."
While there are nuances by market, there are also some universal air travel pricing trends.
Busting the "last minute" myth:
Despite popular belief in the benefits of last-minute booking, in most parts of the world, economy fares tend to increase as departure date gets closer.
"Expedia is constantly looking for ways to improve the experience of booking travel. Finding patterns in data is at the core of what we do. Our algorithms use data science to analyze approximately 19 quadrillion potential flight itineraries and filter them to display the most relevant options for each journey," said Greg Schulze, Senior Vice President, Expedia. "When it comes to saving on flights, booking early, and taking advantage of the other unique ways to save on Expedia, will help people go places for less."
Best day to book for a bargain:
Best day to start a journey?:
Expedia/ARC's tip for 2018: No matter where you're headed, start your journey on a Friday.
"Business travel may typically take place during the week, but starting the trip on the weekend may help companies save on premium seats. This can turn a business trip to a "bleisure" (business/leisure) trip, improving traveler satisfaction and helping companies with their bottom line," said Tristan Smith, Vice President of Global Transport Supply, Egencia.
What months offer the best fares?
Expedia and ARC experts compared ATPs paid for flights during a calendar month of flight departures and found:
Traveling "on trend" - Where is the world traveling?
Download the FULL REPORT HERE
Data and analysis notes:
ARC and Expedia flight and data experts analyzed ARC's air travel data, tracking Average Ticket Prices (ATPs) and other sources for flight booking, departure and arrival trend data the 12-month period between 1 Sept 2016-31 August 2017, encompassing a full year of global domestic and international flight data, along with airline segment data.
The Airlines Reporting Corporation (ARC) is the premier driver of air travel intelligence and commerce in the travel industry with leading business solutions, travel agency accreditation services, process and financial management tools and high-quality data. In 2016, ARC settled $86 billion worth of carrier ticket transactions for nearly 7,000 travel agencies with more than 12,000 points of sale. Established in 1984, ARC is an ISO 27001 certified company headquartered in Arlington, Virginia, with offices in Louisville, Kentucky, Tampa, Florida and San Juan, Puerto Rico. For more information, please visit https://www2.arccorp.com/ and www.twitter.com/arctalk.
About Expedia, Inc.
Expedia, Inc. is the world's largest online travel company, with an extensive brand portfolio that includes leading online travel brands, such as:
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Egencia makes business travel better by making it more connected and complete. Egencia puts travelers at the heart of business travel, continuously supporting them with solutions that are more engaging and effective. Driven by consumer insights and technology investments from parent company, the Expedia, group, Egencia connects everything travelers need – content, technology, service and reporting – in one place. Egencia provides services in more than 65 countries. To connect with Egencia, visit egencia.com or @Egencia. Follow along on our blog.
© 2017 Expedia, Inc. All rights reserved. Expedia and the Airplane logo are either trademarks or registered trademarks of Expedia, Inc. in the U.S. and/or other countries. Other product and company names mentioned herein may be the property of their respective owners CST # 2029030-50.