(Daily Point) — Anticipating substantial reductions in airfare post-mid-January 2024, especially in the UAE, the travel industry is on the brink of a significant transformation.

Malou Prado, CEO of MPQ Travel and Tourism, notes that the most significant drops in fares, possibly reaching 50-60%, are anticipated on long-haul routes from the UAE. This follows the peak winter travel demand, which has led to exceptionally high airfares, creating challenges for last-minute bookings.

The expected decline in airfare rates is poised to benefit several high-traffic routes, including those to the UK, major European cities, South Asia, the Philippines, and even longer routes such as the US. For example, economy class fares from London Heathrow to Dubai International are expected to decrease from Dh5,135 to Dh2,410. Similar reductions are foreseen for routes from New York and San Francisco to Dubai.

Afi Ahmed, Chairman of Smart Travels, emphasizes that this phase of low fares is likely to extend until around March 10, attributed to reduced travel demand from families with school-going children and business travelers. This period is viewed as opportune for budget-conscious travelers to explore the UAE.

Despite the current high ticket rates, projected to be over 25-50% higher than those in September and early October, the upcoming months are expected to offer more budget-friendly options. Carlo Olejniczak, Vice-President and Managing Director for Booking.com in Europe, the Middle East, and Africa, highlights strong growth in bookings for the first quarter of the year, indicating sustained demand for travel.

The International Air Travel Association (IATA) predicts a substantial rebound in global travel, with an estimated 4.7 billion people expected to travel in 2024, surpassing the pre-pandemic levels of 4.5 billion in 2019. This optimistic outlook underscores the resilience and recovery of the travel industry on a global scale.