Growth slows as corporates scale back

Growth slows as corporates scale back
By admin

Growth is slowing in Asia Pacific with more companies opting to travel in economy or on low cost carriers, a new survey by corporate agency Egencia has found.

Firms are also taking fewer international trips and are shifting their focus to intra Asia Pacific travel, regional managing director Cecilia Routledge said.

Despite the slowdown, growth is still outstripping that of the rest of the world, she added.

Unveiling its 2012 global supply benchmarking study, Egencia found air fares were fluctuating from market to market in an indication of the volatile conditions.

“Savvy companies are well aware of the volatility of the market,” Routledge said. “Greater emphasis is being placed on conservative travel policies to optimise savings. Travelling domestically, travelling at the back of the plane instead of the front and travelling with LCCs.”

Airfares booked in Sydney fell 4% in the first quarter of the year, with average domestic fares at $287 and $1099 to Asia Pacific, the survey found.

Region wide average ticket prices (ATP) increased 3%.

Egencia said the increase in ATP can be attributed to higher fuel costs and demand for travel into China.

“Decreased ATP’s can be attributed to increased competition in the local markets and increased capacity on a majority of routes as more and larger aircrafts enter the Asia Pacific region,” the report said.

In the hotel sector, Sydney room rates climbed only 0.1%, according to Egencia, to an average daily room rate of $207.

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