Flying has arguably really never been better. Without debate, it's never been cheaper. Sure, you might not find the amenities or the friendly smile you remember from the "good ole days", but savings in your pocket are something to celebrate. Speaking of celebration, it seems that the cheap airfare party is just getting started. Charting airfare prices began in 1989 and we're presently seeing the sharpest price declines since...you guessed it, 1989.
Why? Economies are relatively strong, more people are traveling. That's a good start. Airlines are smarter with their schedules, they're creating new revenue streams with checked bags, selling miles and paid upgrade opportunities, which are all leading to planes flying full with higher profits. The fares are just a part of that picture now. Doubling down, the headlining factor is that latte's are having greater impact on airlines budgetary considerations than their fuel, thus creating huge savings on the most significant operating expense. Goodbye, questionable fuel surcharges!
To good to be true? It's not. It's real and it's here to stay. The welcome good news has been substantiated not only by sites like Expedia, which benefit from airfare sales, but also from the US Bureau of Labor Statistics, publishing a comprehensive survey with fares decreasing between 9-15% worldwide. This is a trend started in 2015, which we fully expect to continue in 2016. In fact, all international flights are down roughly 9% this year, the lowest number since charting began in 1989. Amazing.
Will the trend ever end? By all indications the trend is here for a while. While they're here you might even want to look at our best tips for finding economy deals and business deals. Lower fares are tempting us out of our living rooms and into aluminum cylinders to hurdle around the world. If demand increases as it presently has, the only thing that could drive prices up is the little old saying of supply and demand. There seems to be a lot of demand...
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