Business travel and its costs will both continue to rise in 2005, according to the American Express Global Business Travel Forecast.
Amex said air fares and hotel rates are expected to rise as business travel recovers.
Amex forecast that global economy/short-haul fares will rise up to 3%.
Hotel room rates for both mid-range and upper-range properties will increase by 1 to 3%, according to Amex.
Economic recovery is boosting business travel demand worldwide, particularly between North America and Europe, said Matthew Davis, Amex director of global consulting services.
Report by David Wilkening
