Latin America region to see greatest air, hotel price increases

09 Jan 2014

Research from the American Express Global Business Travel Forecast 2014 has forecast the trends in travel expenses for 2014.

The Latin America region is predicted to see the greatest growth in airline and hotel prices but the forecast also singles out the APAC region for rate increases.

Due to the stronger performance of economies in Argentina, Brazil and Chile these countries are expected to have the biggest influence on business travel costs in Latin America next year. In particular, Brazil will see a surge of occupancy levels accompanied by a jump in hotel rates as it hosts major sports events in 2014 and 2016.

London, Paris and the United Arab Emirates are some of the most popular business destinations in the EMEA region. In the APAC region, China will drive much of the economic growth next year thanks to its strong economy.

Hotel prices will also increase in Singapore, Thailand and Malaysia.

Airline travel remains a top component of the overall market, but the forecast highlights the increasing opportunities for comfortable business travel via rail in the EMEA region.

Car rentals are expected to remain steady or see small increases next year, while rail companies will look at ways to enhance the business class experience for travellers with the addition of Wi-Fi, more comfortable seating and other measures.

These types of changes can go a long way toward making business travel more convenient for the employee, as a recent survey from Airbus found 54 per cent of travellers named seat comfort as a crucial part of the whole experience.