NEW YORK
American Express Global Business Travel today released its annual Global Forecast, and it projected conservative air, hotel, and ground transportation rate increases worldwide next year. Driving the expected increases is companies continuing to invest in travel to support growth while travel providers carefully manage supply, according to company officials.
The annual American Express Global Business Travel Global Forecast includes more than 2,200 individual predictions, including 136 air pricing predictions globally by type of flight and class of service; 932 country, regional, and city hotel rate predictions by mid-tier, upper tier, and overall property averages; and 35 country and regional ground transportation predictions on base rates and average daily rates expected to be paid worldwide next year.
“The travel industry remains a complex and ever-changing marketplace as it seeks to regain both pre-recession pricing and profitability levels in the face of economic anxiety,” said Christa Degnan Manning, director of Expert Insights research, American Express Global Business Travel. “As business travel is both an essential part of global economic performance as well as an enabler of business growth, we expect the combination of demand and effective travel supplier yield management to likely push rates business travelers pay up across the board in 2012.”
