8.7% hike in air pricing expected in 2018; GBTA & CWT

Airfares in India are forecast to see an 8.7 per cent hike in 2018, according to the 2018 Global Travel Forecast. The Asia Pacific region will see a 2.8 per cent rise in airfares in 2018, with domestic demand increasing in India and China. The report has been prepared by GBTA Foundation in partnership with Carlson Wagonlit Travel, and with the support of the Carlson Family Foundation.
The report suggests that global airfares are expected to rise 3.5 percent in 2018; hotel prices are expected to be 3.7 percent higher; and ground transportation such as taxis, trains and buses are expected to rise only 0.6 percent. Jeanne Liu, Vice President – Research, GBTA Foundation said, “The most successful programs will have to keep a watchful eye on both geopolitical risks and a rapidly-changing supplier landscape as they re-evaluate strategy often and adapt as necessary.”
“The higher pricing is a reflection of the stronger economy and growing demand,” said Kurt Ekert, president and CEO, Carlson Wagonlit Travel. “The global numbers from this forecast should be considered strong leading indicators of what 2018 will mean for global businesses, as we anticipate higher spending.”