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HIGHER INTERNATIONAL BUSINESS TRAVEL COSTS EXPECTED IN 2018

Date published 14.08.2017

CARLSON Wagonlit Travel has forecast higher business travel costs for most markets next year but predictions for price increases in Africa were mostly flat, as a result of ongoing economic weakness and competition.

The retailer’s 2018 Global Travel Forecast, published last month, said increases would reach nearly four percent in some sectors, pushed up by the strength of the global economy.

Air, hotel and ground transport increases were being driven by rising inflation, higher oil prices and emerging markets, the research found.

CWT said competition in Africa’s ground transport sector and the growth of sharing economy services in Latin America would limit price increases. Air fares in Africa would rise three percent, due to ongoing security issues and an oil industry that is still in recovery.

GBTA Foundation Vice President Jeanne Liu commented: “The most successful programmes will have to keep a watchful eye on both geopolitical risks and a rapidly-changing supplier landscape, as they reevaluate strategy often and adapt as necessary.”

• For a full report, click here to read the August issue of TIR.


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