What happened to BCD Travel’s Industry Forecast?

Mike Eggleton, Director of Research and Intelligence at BCD Travel, shares why we’re not producing a 2023 Industry Forecast. His view: Forecasting is riskier than ever due to market uncertainty, volatility and variability. He advises managed travel stakeholders to familiarize themselves with the latest market developments and trends; and develop plans accordingly. This simple approach should at least provide credible numbers useful for budgeting.

Video summary

  • Now may not be the right time to forecast the future.
  • Producing a credible travel pricing forecast in the current environment is incredibly difficult.
  • The world we live in right now presents additional challenges for forecasters:
    • The near-term travel outlook is more uncertain than ever.
    • Volatility has never been so high and seems likely to persist.
    • There’s vast variation in market performance and outlook.
    • Under these conditions, it’s unlikely that any pricing forecast will produce reliable results.

BCD Travel clients: To request inflation forecasts from BCD’s Research & Intelligence team, contact your program manager. Not a BCD client? Please contact us.

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