American Express Global Business Travel released its annual Global Forecast today, anticipating modest rate increases in air, hotel and ground transportation costs worldwide in 2012. Among notable variations by city and region, hotels in metropolitan areas are poised to see higher increases. Among specific projections rate increases in North America:
• Mid-range hotel: 2.5 – 6.5%
• Upper-range hotel: 1.5 – 5.5%
• Short-haul air (economy): 2 – 5%
• Long-haul air (economy): 0.5 – 3.5%
• Short-haul air (business): 5 – 7%
• Long-haul air (business): 3 – 5%
Christa Degnan Manning, director of research for American Express Global Business Travel, stated, "As business travel is both an essential part of global economic performance as well as an enabler of business growth, we expect the combination of demand and effective travel supplier yield management to likely push rates business travelers pay up across the board in 2012."
For additional findings, go to http://corp.americanexpress.com/gcs/travel/news/pressreleases.aspx.