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April 22, 2015

Asia: Business Travel Costs to Hold Firm for 2015

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Hotel and airfare rates will remain relatively flat in 2015 as cooler economic growth in Asia-Pacific (APAC) and forces of supply and demand exert pressure on a region that has seen dynamic growth in the previous years.  

The American Express Global Business Travel Forecast 2015 indicated that air and hotel prices will remain stable this year as China’s economic growth pans out, legacy airlines continue to dominate in the face of low-cost upstarts, and local companies remain cautious.  

It predicts that international flights fares from APAC will grow between -1 and two per cent for business class; and between 01 and one per cent in economy. Intra-regional flights should do slightly better – one to two per cent for business class, zero to two per cent in economy.

Out of Singapore, business class flights will moderate by between -1 and one per cent, while economy class seats will increase by one per cent at most.

APAC’s hotel pipeline is bursting at the seams and keeps rates in check, and the forecast anticipated lower rate increases for 2015 as compared to 2013-2014.

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