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Travel prices are expected to rise sharply in 2019, with hotels going up 3.7%, and flights 2.6%, driven by a growing global economy and rising oil prices, according to the fifth annual Global Travel Forecast, published this week by the Global Business Travel Association (GBTA) and Carlson Wagonlit Travel (CWT) with the support of the Carlson Family Foundation.

Summary:

  • Travel prices are expected to rise sharply in 2019 according to the fifth annual Global Travel Forecast, published by the Global Business Travel Association (GBTA) and Carlson Wagonlit Travel (CWT);
  • Air prices are expected to increase +2.6% globally – fuel costs are on the rise – but continued growth in capacity should help keep major price increases in check;
  • Hotel rates are expected to rise +3.7% globally as economic growth and solid business travel demand spur price increases;
  • Despite ride-sharing growth and oversupply of rental fleets, rental cars remain important part of managed travel programmes; prices will rise +0.6% globally.

 

The report from GBTA, the voice of the global business travel industry, and CWT, the global travel management specialist, looks ahead into 2019 and shows the trends and developments that will shape the business travel industry. While most major markets appear to be trending in the right direction, downside risks remain for the global economy given “the rise of protectionist policies, the risk of stoking trade wars and Brexit uncertainty,” says Michael W McCormick, GBTA executive director and COO.

To read more, you can view the original article here.

Originally published on blueswandaily.com

 

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