The Latest in SME Travel Trends for January–March 2023
2022 was a year of rapid growth for business travel. And the pressure remains. Why? Because while travel supply and demand is predicted to moderate, the complete reopening of China’s borders is causing spikes in demand and the price of fuel. Inflation is decreasing but operating costs remain high.
On top of all of that, the traveller remains high priority for anyone involved in travel. The new quarterly trends report from FCM Consulting explores how traveller choices and business travel booking trends can be influenced by time, carbon emission footprint and price.
Report highlights:
- 17% more airline seats are available in Asia in Oct-Dec 2022 vs Jan-Mar 2023.
- United Airlines is forecast to be back to 2019’s number of available seats in H1-2023.
- Global international business class fares increased on average 15% in 2022 vs 2019, while global economy prices jumped 12%.
- Average global hotel rates are set to climb 7% across all markets in 2023.