APAC price rise predicted

APAC price rise predicted

CARLSON Wagonlit Travel’s (CWT) 2019 Global Travel Forecast report predicts the price of corporate travel will rise across Asia Pacific next year, with projections suggesting a 3.2% jump for air travel and 5.1% for hotel accommodation.

The report anticipates airline rates will increase for the majority of countries in the region, with Australia to see an approximate jump of 2.2% in air ticket prices, and New Zealand to feel most of the pinch by rising 7.5%, as well as an 11.8% increase for hotel accommodation.

Bucking the trend in the upward trend of accommodation pricing is Japan, which is anticipated to see a drop of 3.9% in hotel prices as it prepares to add capacity in the lead up to the 2020 Tokyo Olympics.

On the technology front, the report suggests that 85% of all corporate transactions will be done digitally by 2020, with sectors of the travel industry investing heavily in mobile apps to cater for the upswing.

Meanwhile, on-demand, shared, electric and connected cars are expected to become more popular in APAC business travel, with Australia to rise 2.4% in 2019, and NZ predicted to witness a 4% take-up.

Source: traveldaily