Q3-2022 the highest peak in travel for many years, FCM reports
Q3-2022 saw the highest peak in travel in recent years with the quarter also enjoying the highest seat capacity available this year, with global volume down just 13 per cent on pre-COVID numbers, according to FCM Consulting’s latest Global Trend Report.
Australia and New Zealand are expected to be back to 84 per cent of pre-COVID capacity in Q4-2022, with forecasts indicating that the Asia region will be leading the charge, by being back to 94 per cent of 2019 seat volume by December 2022.
“Advanced booking days globally averaged 25 days in Q3-2022, but the biggest change we saw came in the form of long-haul, with international advance booking days jumping to 40 days – up 10 days on 2019 – a sign that corporate travellers are needing to travel and are booking early to get a seat,” FCM Consulting general manager Felicity Burke said.
“Corporate travellers are incredibly savvy and would have studied the market to know that better ticket prices are booked further out – and with confidence that travel will not be interrupted with the lifting of restrictions – the extended booking period is now more than viable.
“The other interesting stat showed that the percentage of international trips versus domestic rose by +4 points in Q3-2022 – that’s an increase of five per cent versus 2019.
“The number of seats offered globally out of Australia and New Zealand in Q4-2022 now sit at two thirds of what they were in 2019 – with domestic flights providing the strongest fightback – now
offering more than nine out of 10 of the flights pre-COVID.
“Elsewhere, notable changes have taken place with Japan opening their borders after two years and Hong Kong’s removal of quarantine. The major stumbling that does remain is the continued closure of borders in China – when this changes – we expect capacity to really take off.”
Email the Travel Weekly team at traveldesk@travelweekly.com.au
corporate travel FCM Consulting Felicity Burke Global Trend ReportLatest News
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