2016 is shaping up to be a great year for travellers to save money as they take to the skies.

In partnership with the Airlines Reporting Corporation (ARC), Expedia released its second annual report, Preparing for Takeoff: Air travel outlook for 2016, which analyzes global air travel data. The report highlights key trends over 2015 and makes a number of bold prediction for the year ahead. Many of these predictions revolve around useful booking information.

Did you know among Expedia, Inc. sites alone, we had over 7.5 billion air searches over the past year?

Analyzing these massive data sets, with partners like ARC, gives us smart insights that we can share with travellers like you. Simple insights in the booking process—like what time of year, or day of the week to book—means huge advantages and big savings.

Here are the key takeaways from the Air travel outlook for 2016 report:

  • Between October 2014 and October 2015, global air ticket prices declined on average about 8% versus the prior year. According to ARC data, the price of travel within Europe declined the most in that timeframe, making these routes among the best potential bargains for 2016.
  • On the whole, the best time to purchase economy tickets in North America for travel within North America is approximately two months in advance.
  • It is difficult to predict the best day of week to find the lowest ticket prices because airlines are constantly adjusting prices. In general, the weekend has become a likely time to achieve savings though the rule of thumb still stands: if there is a good airfare available within your budget, buy it, regardless of day of the week.

The bottom line: Go. Whenever you buy, wherever you’re headed, just go. The year 2016 is likely to be a great year to travel for less. Take advantage of this scenario while you can.

Click here to view the full report.