Singapore: A strong global economy and rising oil prices are expected to push up the cost of air travel in 2019, with fares seen rising 2.6 per cent and hotel rates up 3.7 per cent, although there are downside risks from a trade war, according to an industry forecast.
In some countries, including India, New Zealand, Norway, Germany and Chile, airfares are expected to rise by more than 7 per cent, said the annual business travel forecast from Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA) released on Tuesday.
"Speaking for the Asia-Pacific region, we are coming off a period three to four years ago where there was a lot of capacity in the system (and) fares were down pretty significantly, potentially lower than was sustainable," said Michael Valkevich, CWT's vice president for global sales & program management, Asia Pacific.
24/07/18 Reuters/Business Standard
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In some countries, including India, New Zealand, Norway, Germany and Chile, airfares are expected to rise by more than 7 per cent, said the annual business travel forecast from Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA) released on Tuesday.
"Speaking for the Asia-Pacific region, we are coming off a period three to four years ago where there was a lot of capacity in the system (and) fares were down pretty significantly, potentially lower than was sustainable," said Michael Valkevich, CWT's vice president for global sales & program management, Asia Pacific.
24/07/18 Reuters/Business Standard
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