United Kingdom
United States
Asia Pacific
Business travel costs to ‘climb steadily’
Air fares are forecast to rise by up to 10% next year, with business fares rising by as much as 11%.
The estimates came from a 2007 industry forecast from travel management company BCD Travel Consulting.
The company expects published tariffs to rise by between 5%-10% with corporate fares to be up by between 7%-11%.
Hotel costs are estimated to rise by an average of 6% but could go as high as between 10%-14% in some regions. Europe, however, is predicted to see minimal or negative daily hotel rate changes with increases of less than 1% outside metropolitan areas due to over capacity in some major business markets, according to the report.
Average group room rates are forecast to rise by between 3%-5%, but by between 8%-9% in popular meeting destinations.
Car rental rates are predicted to be up by between 5%-6% next year.
BCD said: “Over the past two years BCD Travel Consulting has seen strong sustained growth in business travel in all markets. The growth, in turn, continues to drive industry prices higher. That being said, we expect this industry growth – and prices – to continue to climb steadily upwards for the next two years.”
Report by Phil Davies
Related News Stories:
Phil Davies
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls
Unexpected wave rocks cruise ship