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What you need to know about National Cheap Flight Day, Aug. 23

What you need to know about National Cheap Flight Day, Aug. 23

Bargain hunters take note: Wednesday is National Cheap Flight Day, marking the transition into the off-peak season when the cost of international travel is said to drop by as much as 30 percent.

For years, August 23 has been promoted as the day for snapping up an airfare bargain. But before you rush headlong into purchasing a flight before the stroke of midnight, know that its name is a bit of a misnomer: August 23 simply marks the start of the off-peak season, when students return to school and airlines try to fill up seats during the off-season with flash sales.

"Cheap Flight Day isn't just one day of deals -- it's the start of the off-peak season," points out Sanjay Hathiramani, spokesperson for online travel booking site CheapOair in a statement.

"Fares are going to continue to stay low until Thanksgiving. Especially for those looking for deals to international destinations, the time to book your tickets are during this window, beginning at the end of August."

Among the top international destinations, CheapOair says that Spain is posting the largest price decrease, with flights to Madrid expected to drop by 37 percent for a potential savings of up to USD $250, and trips to Barcelona poised to drop 33 percent, for savings of up to $200.

Top domestic destinations in the US include flights to Los Angeles, which are expected to drop 27 percent (potential savings of $50), and Chicago (15 percent, $30).

Meanwhile, experts at Cheapflights point out that for the lowest overall fares, travel between late September and early November are your best bets.

For example, travelers can score a direct, roundtrip flight from Chicago to San Francisco for $175 during the fall period.

Experts also recommend flying mid-week, when airfares are lowest, and to pounce on a good deal when you see one, as the best fares don't last long.

Here are some of the top international destinations for Cheap Flight Day, according to CheapOair:

Madrid, Spain, 37 percent decrease
Barcelona, Spain, 33 percent
Manila, Philippines, 32 percent
Ho Chi Minh City, Vietnam, 31 percent
Bangkok, Thailand, 30 percent
Rome, Italy, 28 percent
Dubai, UAE, 24 percent
Paris, France, 24 percent

Top domestic destinations for deals

Los Angeles, 27 percent drop
Chicago, 15 percent
Seattle, Washington, 14 percent
Minneapolis, 14 percent
Portland, 13 percent
San Diego, 11 percent
Nashville, 11 percent
Boston, 10 percent