Also visit: | | |

Carlson Wagonlit Travel releases 2013 Global Travel Price Forecast

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

23 July 12

ICC Birmingham signs three year deal with the BOA
The International Convention Centre Birmingham has secured a three year deal with the British Orthopaedic Association (BOA) following a successful bid from the ICC and... more
ACC Liverpool to host Oracle User Group for the first time
ACC Liverpool has won its bid to host the UK Oracle User Group, the largest Oracle conference in the UK, for the first... more
Ednam House Hotel acquired by Guyzance Hall Group
Ednam House in Kelso, on the Scottish borders, has been purchased by Guyzance Hall, for an undisclosed... more
Order of the Bath Awards judged at Bailbrook
The latest region to inaugurate industry awards for recognition of achievement is Bath and 17 events industry experts went to Bailbrook House last week to judge the... more
Excel to welcome Angelina Jolie for global summit on sexual violence
Excel London is set to host the Global Summit to End Sexual Violence in Conflict, 10-13 June 2014, which will see Foreign Secretary William Hague co-chair the summit with... more

News Archive
Partners & Associations
Conference Centres of Excellence
Meetings Industry Association
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