Business travel seen costing more next year
This is from higher demand and limited growth in supply of services, says report
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WINGING away on that business trip will cost more next year, say two companies that specialise in managing business travel, meetings and events.
Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA), in releasing the first Global Travel Price Outlook report on Tuesday, said improved economic growth in advanced economies and strong demand from emerging markets, coupled with limited increase in supply of flights and hotel rooms, can be expected to bump up airfares and hotel rates, among other travel expenditures.
Global spending on business travel is expected to grow 6.9 per cent between last year and this year, and by 8.6 per cent between this year and next year.
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