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3/09/2013 Statistics and MICE researches

CWT releases its 2014 Travel Price Forecast

Carlson Wagonlit Travel (CWT), a company specializing in business travel management and meetings and events, released the results of its 2014 Travel Price Forecast, the study that provides forecasts regarding price trends for the following year, involving four key sections (flights, hotels, ground transport and meetings & events) for easy comparison across four macro geographic areas (Latin America, the Asia- Pacific region, Europe, the Middle East and Africa and North America).

On a global level, the survey highlights moderate price increases linked to travel, in line with the limited economic growth expected. The situation for countries in the Eurozone is different where a decrease in prices is forecast due to continued economic uncertainty in the region.

 "While we expect moderate price increases worldwide next year, there are some notable exceptions. Prices in Europe are likely to decrease because of the continued economic uncertainty in the region, while emerging markets such as Argentina could experience far higher increases in 2014 due to high projected GDP growth and significant inflationary increases” explained Christophe Renard, vice president of CWT Solutions Group.

 As regards Italy, we expect airfares to increase by 0.3 to 1.2%; hotel rates could vary from -5.5% to +1.2%, depending on the city in question, and car hire could register a price variation of between -1.2% and +0.5%. According to the Forecast, as regards meetings and events, daily attendee costs are likely to remain the same as suppliers reduce their prices to stimulate demand, while attendee numbers could reduce by as much as 3% as planners’ priority will be cost control.

The complete 2014 Travel Price Forecast survey is available on the CWT website.


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