There has been an increase in travel within the past five years. This may be due to various reasons. An increased interest through social media exposure and more societal emphasis on vacation time but a major factor may be due to airfare being at its lowest in seven years. The Bureau of Labor Statistics found international flight fares declined by 15 percent in 2015. This is great news for anyone that’s looking to get away and saved a bit of money at the same time.
Here are four benefits of affordable airfare for consumers:
You can save money and travel more often:
The most obvious benefit of affordable airfare is that you can save money and travel more often. Though cheaper flights can jeopardize the quality of the experience, it is important to remember that you while only be spending a few hours on a flight. You can use the money that you saved to have a more fulfilling experience when you arrive at your destination. Lower prices are also beneficial for airlines. Airline revenue has increased substantially due to decrease in price.
You have more power to decide what you want:
Due to the drop in seating charges, extra fees have been applied for add-ons. Because of this, not all fliers are entitled to these services. Seat assignments, priority boarding access and checked baggage are a few examples of these add-ons. Another way that consumers have choice is due to competition between many low-cost carriers. Many airlines offer discounted rates, specials and incentives to entice consumers. This high competition allows fliers to filter through many options and decide which is best for them.
Better quality of food and beverages:
Because airlines are seeing an increase in revenue, they can improve in-flight services and accommodations. Airlines are investing in infrastructure, as well as raising the quality of the food and beverages they offer. “I think the switch from giving free food to charging for it has improved the quality of what is on board,” said Jay Sorensen, president of IdeaWorks, travel industry firm . Airlines needed a larger supply in prior years because the demand was higher. All passengers were given a free meal during their flight, causing quality to be compromised. Now that both the supply and demand has decreased, airlines have more revenue to invest in higher-quality products.
Another benefit and growing trend that we’ve seen in recent years in improved in-flight entertainment. Like with the improved quality of food and beverage, this may be due to additional revenue that airlines have to spend on such accommodations. It also may be due to a surge in competition between airlines and the desire to win over consumers. Whatever the care may be, it is definitely beneficial for fliers. New and improved accommodations include in-seat power outlets, USB outlets and improved in-flight Wi-Fi connectivity. The faster, more reliable and higher quality their accommodations and services are, the more likely they are to please consumers and win sales.
These are four of the benefits of cheaper airfare. This trends is beneficial to both consumers and airlines. Can you think of any other benefits? Do you think flying will become even more affordable and popular within the next few years?