The newly released BCD Travel 2019 Industry Forecast provides an abundance of data and tips useful to anyone with a role in sourcing corporate travel. The report offers a global overview and seven regional reports (Africa, Asia, Europe, Latin America, the Middle East, North America and Southwest Pacific) that detail supply, demand and pricing trends for air, hotel, meetings and ground transportation.
Download the full 2019 Industry Forecast to obtain detailed supply, demand and pricing projections and deep insights.
- Sourcing hotels in Africa? Negotiate discounts on ancillary charges (like meals and laundry), which can add an average 45% on top of the room rate, compared with 30% globally.
- Managing air travel for employees in China? Make sure they’re on the “white list” you provide to carriers, or your travelers could be denied discounted corporate fares.
- Negotiating with Indian airlines? Take into account that extras like baggage and preferred seat assignment are often bundled into the total price.
- Keeping an eye on the global economy? Watch out for the biggest risk: a trade war that affects global supply, dampens consumer spending and reduces business confidence. That could usher in the next economic downturn.
- Fretting about Brexit? Look for the fine print from European airlines, which are including Brexit caveats in tickets sold for travel after March 2019. The warning: Flights might be grounded by “the regulatory environment.”
- Moving travelers around in Latin America? Pay attention to ride-hailing services, which are thriving because of widespread smartphone use and underwhelming public transportation options. (Uber claims to have more than 500,000 drivers in Brazil alone.)
- Wondering what’s ahead for Middle East hotels? Rates could fall in Oman and Qatar and rise no more than 2% in Saudi Arabia, the United Arab Emirates and Kuwait. But accommodation rates in Israel could climb 3% as hotels take in tourists flocking to the country on low-cost carriers.
- Making ‘Big Apple’ plans? The plentiful supply of hotel openings and alternative accommodations that pushed rates down in New York City in 2018 could be at an end. Expect rates to increase there again in 2019 when new supply slows.
- Hoping for a hotel deal in New Zealand? Cross your fingers and call your suppliers. Auckland’s hotels are sold out many nights, and rates are very high. Some hotels will only give deals to their most important clients.
Ask your account manager how BCD Travel’s industry expertise could help you improve your travel program in 2019 and beyond.