CWT’s 2012 Global Travel Forecast estimates air and hotel pricing
A study that forecasts pricing and rate information for airlines, hotels, ground transportation providers and M&E spending says that prices in most areas around the world and for most categories of spending are expected to rise in 2012. The most substantial increases will occur in the booming Latin America region, where CWT forecasts that airline pricing will increase by 5.8% in 2012, with increases in Colombia topping the charts at 7.9-11.4%. This is primarily due to rapidly increasing demand and limited supply in the region. Average daily hotel rates are expected to increase by 9-11.8% in H1 2012 and 10.1-12.2% in H2. Brazil could see increases of up to 34% in H2.
In the Asia-Pacific region, CWT forecasts airline pricing to rise by 3.1-3.8% in 2012 and hotel rates by slightly less. In North America, which includes the US and Canada, airline pricing will increase by 3.5-4.1% in 2012, hotel rates by 2.4-3.1% in H1 and 2.6-3.4% in H2. As for Europe, the Middle East and Africa overall pricing is expected to be flatter, with airline pricing increasing by 2.1-3.7% in 2012 and average daily hotel rates rising by just 0.2-0.9% in the first half of the year and 0.1-0.8% in the second half.
[pictured: Brasilia, Brazil]