Travel Prices To Rise Nearly 4% By 2018

Travel prices could rise as much as 4% in the next 12 months, as a strong economy helps demand catch up with supply.

According to the fourth annual Global Business Travel Association (GBTA) Foundation's 2018 Global Travel Forecast, global airfares are expected to rise 3.5% in 2018. Hotel prices are expected to increase 3.7%.

North America will see airline prices rise by 2.3%, GBTA said. "With the region's air travel market nearly flat year-over-year in early 2017, competition is fierce between carriers who now compete on branded fares rather than on bundled fares or by carrier type," the organization said in its report.

"North American hoteliers may be banking on economic growth as demand has leveled off since mid-summer 2016, but supply is expected to continue growing steadily through 2018. U.S. hotel growth is expected to be concentrated primarily along the West Coast and in Washington D.C. In Canada, Toronto, Vancouver and Montreal are expected to maintain good pricing power amid a weak Canadian dollar."

  0
  0
Tip of the Day
Daily Top List

Most Useful Twitter Accounts for Travel Agents

1. AskTSA

2. FlightRadar24

3. Department of State

4. CLIA Global

5. ASTA

Source: TMR

TMR Recommendations
Top Stories
Holiday Magic Comes to Universal Orlando
Holiday Magic Comes to Universal Orlando

Two years in the making, Christmas arrives at the Wizarding World of Harry Potter.

Marriott to End SPG Pro Points for Travel Agents
Marriott to End SPG Pro Points for Travel Agents

Travel agents have previously expressed concern over the integration of Starwood and Marriott reward programs.

Adapting to Market Changes, Travel Impressions Remakes Portfolio
Adapting to Market Changes, Travel Impressions Remakes Portfolio

Travel agent-only operator is adding more independent tour itineraries and re-launching programs in multiple regions.

U.S. Government Expected to Extend REAL ID Compliance Deadlines
U.S. Government Expected to Extend REAL ID Compliance Deadlines

U.S travelers living in states that do not comply likely will not need their passports to travel domestically starting January 22.

Barceló Hotels Sees Travel Agents as Key to U.S. Market Growth
Barceló Hotels Sees Travel Agents as Key to U.S. Market Growth

Spanish-owned Barceló Hotel Group has doubled its budget for U.S. travel agent programs as it looks to reach the U.S. leisure market.

The Best Black Friday Travel Deals
The Best Black Friday Travel Deals

From resorts in Mexico to cruises in Europe, travel advisors can snap up special savings on bookings over the next week.

News Briefs
Advertiser's Voice
Advertiser's Voice: Holland America Line