CWT forecasts moderate price hikes

CWT forecasts moderate price hikes
By admin


Airfares in Australia will rise by around 3% in 2014 with hotel rates likely to see a 4% increase, according to Carlson Wagonlit Travel.

The corporate giant said prices across the world will increase “moderately” next year in line with limited global economic growth.

In its 2014 Travel Price Forecast, CWT predicted airfares in the local market will stabilise over the next two years after falling during 2012 and 2013.

“A slight increase of up to 3% is predicted, however, continued competition in the market will ensure prices don’t spike,” CWT said.

Meanwhile, the declining performance of the resources sector will see reduced demand for hotels with rates expected to rise up to 4%.

Car hire rates are forecast to jump 2.6%.

CWT Solutions Group vice president Christophe Renard said while worldwide increases will be moderate, there will be “notable exceptions”.

“Prices in Europe are likely to decrease because of the continued economic uncertainty in the region, while emerging markets such as Argentina could experience far higher increases in 2014 due to high projected GDP growth and significantly inflationary increases,” he said.

CWT said Asia Pacific airfares could rise 4%, China 7%, Latin America 4%, Europe, Middle East and Africa 3.1% and North America 2.6%.

Hotels rates across Asia Pacific are projected to leap almost 5% and in Latin America by almost 6%, fuelled in part by a huge 16% rise in Venezuela and 8.4% hike in Brazil.

Room rates in EMEA will range from a 2.5% fall to a 1.6% increase.

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]