Travel search engine Kayak.co.uk analysed data to find the best deals for the most popular European and international destinations.
Its report found that savings of up to 80 per cent can be made, depending when the trip is booked and when it is taken.
Holiday-makers heading to Europe on mid-haul flights should book between one and two months in advance as airlines try to fill empty seats. But those jetting off to Reykjavik in Iceland can save 61 per cent on flights five months ahead.
Families hoping to land a cheap plane fare to Dubai can save 16 per cent by booking flights nine months ahead, while those heading to New Zealand can save 58 per cent by booking seven months in advance.