The drop in air ticket prices for Asia Pacific (APAC) by 7%, and savings in packages from travellers’s favourite cities worldwide spell cheaper holidays for travellers from the region.
These are the findings of a global report, Travel Check-Up: Air Travel Trends 2015. A mid-year review on air travel trends and pricing in the coming months released by Expedia and Airlines Reporting Corporation (ARC), it represents original analysis of a variety of travel data.
Specifically, the report shares the following points about APAC travellers:
7% decline in air ticket price for Asia Pacific
APAC travellers benefit from cheaper air fares and packages. (Image credit: haveseen/iStock)
In December 2014, Expedia and ARC analysed likely 2015 average ticket prices (ATPs) to many top travel destinations originating from North America, Europe, and Asia-Pacific. With prices adjusted for exchange rates, air ticket prices declined approximately 7% for travellers originating in Asia Pacific as compared to 2% on average across North American and Europe.
The survey also found that Malaysian travellers heading to Australia and Thailand enjoyed the largest ticket price drop at 22% and 10% respectively.
For specific prices for the remainder of 2015, air ticket price are expected to decline across a selection of travellers’ favourite destinations.
Chart below shows the top 10 destinations to which travellers can find the best deals.
“An analysis of air industry data suggests that, with smart planning, the second half of this year will be an optimal time to explore the world,” said Greg Schulze, senior vice president, Expedia Global Tour & Transport.
Package savings from destinations worldwide
Vacation packages are a great way for travellers to get major savings. By bundling, travel suppliers have more flexibility on the rate offered, so they are willing to provide consumers great deals.
After running data on package deals booked for travel between June and September 2015, which included air and hotel, the study revealed that travellers can save up to US$648 across all destinations.
*Savings on this table are in USD
APAC travellers reducing stays in Europe and headed to the U.S.
Looking at the length of stay (LOS) for travellers originating in APAC, one clear trend is they are reducing their stays significantly in Europe this summer. As shown below, LOS is down across both premium and economy class cabins.
One reason for this trend could be the Chinese yuan gaining strength against the US dollar. Thus travellers originating in APAC, or more specifically China, might be seeking to take advantage of this favourable exchange rate and shift travel plans to North America.
On the other hand LOS on journeys from APAC to North America shows gradual increases overall, peaking at 12% and 14% increases when comparing August 2014 versus August 2015 for premium and economy cabin travel, respectively.
Download the full report here.
