How to Do an Around-the-World Trip With Points
The dream redemption
An around-the-world trip strings together long-haul flights across continents, the single most expensive thing you can buy in the air, which makes it the highest-ceiling points redemption there is. Done in business or first class, the cash price would be enormous, while the points cost can be remarkably reasonable if you build it well. It is the trip serious points collectors save for. See best business class redemptions.
Option one: an alliance round-the-world ticket
Some programs sell a true round-the-world award that lets you take many flights and stopovers around the globe for a single mileage price based on total distance or segments. These can be extraordinary value for a multi-stop trip, though the rules on direction, stops, and mileage bands are intricate. They book within one alliance, so you plan the route around that alliance carriers. See stopovers and open-jaws.
Option two: stitched one-way awards
The more flexible approach is to book a series of one-way awards, each on whichever program prices that leg best, which lets you mix alliances and chase the best sweet spot for every segment. It takes more searching and more separate bookings, but it can beat a fixed round-the-world fare and lets you fly the best cabin on each route. Confirm each segment before transferring. See finding award space.
Planning the trip
Either way, plan the rough route first, then find award space leg by leg, building the trip around the segments where premium space opens. Leave buffer days between flights, watch surcharges by program, and earn a broad base of transferable points so you can reach any program a leg requires. The payoff is a bucket-list journey for a fraction of its cash cost. Award prices and availability change constantly as programs devalue and adjust, so treat every points figure here as a rough, illustrative guide rather than a guarantee. Always confirm the current price and that an award seat is actually available on the airline own site before you transfer points, since transfers are one-way and cannot be reversed.