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Saudi Arabia: Airfares drop to record lows since early 2015

Foremost reason is decrease in tourism demand by 35 per cent during this period

Saudi Arabia is witnessing a sharp decline in airline ticket prices to record lows since the beginning of the year, continuing into this November, reveal experts.

Workers in the travel and tourism sector in the Kingdom attribute this decline to several reasons. The foremost is the decrease in tourism demand by 35 per cent during this period, in addition to the global economic conditions and sinking fuel costs seen during this year, reports London-based Asharq Al-Awsat.

Industry experts disclose that airlines expected this recession early this year and launched incentive offers ahead of schedule since September. However, prices, including those for multi-regional and global destinations, reached the lowest levels during these days compared with prices offered during the second and third quarter of this year.

Dr Nasser Al Tayyar, founder of Al Tayyar Travel Group, says: “This period of the year is a low season for the tourism sector in the world,” attributing this to the winter, which he linked to the supply and demand and the fact that the majority do not prefer to spend their holidays abroad during this period.