Travel prices to increase in 2013
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Air fares in Europe are expected to increase 2.5% while hotel rates are set to go up 1.3%, according to a new index.
Carlson Wagonlot Travel’s 2013 Travel Price Forecast has predicted premium traffic will see a 9% price boost as business travellers look to take advantage of the included Internet and other amenities, while high-speed rail costs could go up 4% and car rental prices could soar 1.2%.
Prices in Asia and Latin America are set to increase the most as the emerging markets stabilise the growth seen this year. Air travel in the APAC region is set to increase 2.5% with hotels up 3.5%, while Latin American air fares are set to boost 1.3%.
“Price increases in 2013 will begin to level off in most regions throughout the world compared to what travel buyers experienced in 2012, as booming economies like Asia Pacific’s begins to normalise, and as uncertainty remains in Europe,” said Nick Vournakis, SVP, global product marketing and CWT Solutions Group. “While slightly higher prices will be the reality again next year as demand for travel outpaces supply in most places, our forecast demonstrates there is still plenty travel buyers can do to watch costs and take case of travellers through other measures, including re-examining how they influence traveller behaviour”.
