Also visit: mashmedia.net | c-mw.net | exhibitionnews.co.uk | exhibitionworld.co.uk
Search

Carlson Wagonlit Travel releases 2013 Global Travel Price Forecast

Share
article:
Share on LinkedIn Email Print View

International event management agency, Carlson Wagonlit Travel (CWT), has released its 2013 Travel Price Forecast.
 
The report indicates prices in most areas of travel spend are expected to grow modestly around the globe next year with the most significant inflation expected throughout the Asia Pacific and Latin America regions.
 
CWT’s global 2013 price projections were formed from the combination of a) A statistical model that evaluates historical price behaviour and forecasts future price references; b) The market-specific expertise and travel industry knowledge of CWT personnel worldwide; and C) macro-economic information sourced from IHS Global Insight, the International Monetary Fund Research Department, and the United Nations.
 
“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 begin to normalise, and as uncertainty remains in Europe,” says Senior VP of Global Product Marketing and CWT Solutions Group, Nick Vournakis. “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 care of travellers through other measures, including re-examining how they influence  traveller behaviour.”
 
While Europe continues to face mounting economic uncertainty, most Middle Eastern and African economies are faring reasonably well, the report found. As such, the region overall will experience moderate travel price increases in 2013, although the report warns significant changes could occur at any point.
 
Other key points made in the report:

The forecast found the Asia Pacific (APAC) region has experienced strong economic growth over the past several years, which quickly drove prices upward. Growth in 2013 is expected to stabilise,which will likely lead to modest price increases, although specific resultsvary widely by country.
 
The Latin America (LATAM) region continues to experience overall economic growth, though significant disparities continue to exist that will create varied travel pricing by country next year. The newly formed LATAM Airlines, which is now the world’s second largest airline by market value, will embark on its first full year of operation in 2013, which may result in improved routes and frequencies to, from, and within the region.
 
While the economies of the United States and Canada are experiencing slow and steady improvement, there is no major growth expected for the foreseeable future, which will help contain travel price increases in 2013 for most categories of spend.

Any conference-related news? Email sarah@mashmedia.net

23 July 12

Ashfield appoints David Kerr as senior creative director
Ashfield Meetings & Events recently appointed David Kerr as Senior Director of Creative and Production Services.... ...read more
The Meetings Show partners with EVCOM to raise profile
New industry association EVCOM and The Meetings Show have announced a partnership designed “to raise the profile of the show” and benefit the... ...read more
Boris backs idea of London bid for World Expo
London Mayor Boris Johnson is keen to back a bid from the capital to host the World Expo in 2025.... ...read more
ABPCO focuses membership drive on in-house PCOs
The Association of British Professional Conference Organisers is focusing a new membership drive on in-house PCOs, especially those working in the association, membership... ...read more
VenueMenu app makes its debut at St James’ Park
Newcastle United FC’s strikers may be struggling for service on the pitch, but the club’s fans have become the first in the country to benefit from an app... ...read more

News Archive
Partners & Associations
I.C.C.A
Conference Centres of Excellence
Meetings Industry Association
VENUEmasters
International Confex
Conference and Meetings World
Conference News - Online
Conference News Supplement - Online
Mash Media
Home | News | Features | Blogs | Events Diary | Jobs | Directory | Subscribe | Print Magazines | Contact Us
© 2008 - 2014 Mash Media Group