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Business travel to increase in 2014

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Business travel demand should continue to rise next year, broadly in line with the Global Economy report predicts. According to their 2014 forecast, Advito saw business travel demand growing more slowly in 2013 than was anticipated. This had the effect of keeping a lid on fares. Less surprisingly, they see overall prices increasing broadly in line with inflation.


Specifically, they predict opportunities for price negotiation on the Atlantic and Asia Pacific routes. They view the situation in North America and Europe as healthy; with airlines keeping capacity increases in line with demand, hence the flat, in real times, price trends predicted.

The situation in Latin America was different. Here consolidation between major carriers has combined with strong demand to produce a price increase prediction for air fares at 2-3 percent.

Corporate hotel rates are projected to rise by 4-6 per cent in 2014: a real term increase. The two cities notable for significant projected increases in the business hospitality sector rates are New York and Hong Kong, who should both see rates climb by more than 10 percent, the report predicts. The report also cited opportunities for negotiating competitive corporate rates in smaller cities.

Advito also found that buyers could negotiate significantly better rates if they could decide on meeting venues early. They also observed availability issues for popular meeting venues; further highlighting the need to get in early.

Above inflation rises of 4 percent were also predicted for corporate car rental.

With Griffin Transportation you can rest assured that we will provide you with the very best possible service, tailored to your needs not just locally but, through our carefully selected affiliates, worldwide. Call us today for your corporate travel needs.




Posted on Oct 11 2013

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