BCD Travel 2007 Forecast by the Numbers
(A snapshot of travel cost increases)
Driven by strong business travel, company travel costs are expected to trend upward well into 2008.
Worldwide, published airfares are predicted to rise 6 percent to 10 percent on average. Corporate airfares are estimated to increase 7 percent to 11 percent.
Hotel daily rates are expected to rise by 6 percent on average. In some markets, however, we expect rates to rise as much as 10 percent to 14 percent.
- The Asia Pacific and India regions expect lodging daily rate increases from 14 percent to 17 percent as demand continues to outpace supply.
- The same is true in the Latin American region where lodging daily rate increases are currently tracking at 13 percent to 16 percent.
- Europe, however, is experiencing minimal or negative daily rate changes. Increases of less than 1 percent are expected outside of the metropolitan areas as a result of over capacity in some major business markets.
BCD Travel Consulting forecasts that average group room rates will increase 3 percent to 5 percent in 2007. However, in popular meeting destinations, group room rates are expected to increase 8 percent to 9 percent. Food and beverage costs are expected to rise at a faster rate with a forecasted increase of 8 percent for 2007.
Car Rental Rates
BCD Travel Consulting predicts that car rental rates will increase by 5 percent to 7 percent in 2007
Please click BCD Travel 2007 Industry Forecast to see the full forecast.