UK air fares could rise 3.5%
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Flight prices in the UK could go up 3.5% next year while hotel rates remain flat, according to a new forecast from Carlson Wagonlit Travel (CWT).
The travel management company also found UK rail costs could see the highest increase in Europe at 6%, while it will cost travellers 2% more than today’s prices to hire a car.
Across the EMEA region flight costs are expected to rise 3.1%, with Russia potentially seeing an 8% increase in costs, the 2014 Travel Price Forecast Index detailed. Prices could go up 4% in Asia Pacific and Latin America, while air fares in North America could increase 2.6%.
New rail services in Italy and France are thought to be putting pressure on domestic air traffic, while projects in China and Latin America will have an impact when they come to fruition. Car hire costs are set to increase in the majority of markets.
In terms of hotels, EMEA prices could sway either way; while rates in the LATAM, APAC and US are predicted to go up 5.8%, 4.9% and 3.9% respectively.
“While we expect moderate price increases worldwide next year, there are some notable exceptions. Prices in Europe are likely to decrease because of the continued economic uncertainty in the region, while emerging markets such as Argentina could experience far higher increases in 2014 due to high projected GDP growth and significant inflationary increases,” said Christophe Renard, CWT Solution Group’s vice president.
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