Like every year, the business travel industry takes advantage of the month of January to present its review of the past yearand the outlook for the next twelve months. American Express Global Business Travel (GBT) is no exception to the rule: the business travel agency has just unveiled its 2018 forecasts, marked by positive trends for business travel professionals: " Demand is stimulated by renewed global growth and by the renewed confidence of companies and investors "The authors of the report sum up that the upward trend will not necessarily affect the fare structure: ". prices will rise only marginally. Suppliers are rapidly increasing their capacity to meet demand and are increasingly competitive in winning market share. ". The study published by American Express GBT points in particular to the aggressive expansion of low-cost carriers which, coupled with low oil prices, will help to keep airfares down.
On the other hand, the hotel industry could well put more pressure on travel budgets. In their quest for profitability, business establishments are likely to tighten up their cancellation policies, while ancillary charges are likely to multiply. Europe will be particularly affected by this rise in hotel rates: " The whole of Europe, with the exception of the UK and Spain, is expecting Significant increases in hotel rates "According to the authors of the study: " establishments across the region are experiencing growth in demand driven by tourism, which has outstripped the limited increases in supply ". For this European market - and more generally for the EMEA zone - the future remains relatively uncertain: " Europe is building on a strong 2017, but political uncertainty is dampening expectations "The American Express GBT study summarises this, and goes on to highlight the potential impact of BrexitThis is important both for carriers and for passenger demand.
more strategic, traveller-focused planning
For David ReimerGeneral Manager and Senior Vice President North America of American Express Global Business Travel, " travel managers should strive to provide business travellers with the tools and services that will not only ensure their satisfaction, but will also enable them to make the most of their time. satisfactionbut will also encourage compliance and reduce risks ". He added: " Business travel is a key driver of growth, and now is the opportunity to reaffirm commitment to it through more strategic, traveller-focused planning ".
