Travel agency Carlson Wagonlit Travel (CWT) has published its 2015 global price projection for the travel industry, providing a thorough analysis of what travelers and businesses can expect for the year ahead.
The report was compiled in conjunction with the GBTA Foundation, the formative research arm of the Global Business Travel Association (GBTA). The study underlines that demand from emerging countries like China, India and Brazil, in addition to the improved growth of emerging economies in general, as well as their limited development of travel provision, will result in growing pressure on fares, particularly in markets of high demand. It shows that travel professionals are preparing for this situation and expect the greatest rises to occur in air fares, given current consolidation in the major markets.
According to the research, some of the risks that might influence demand and the costs of travel in 2014 are the crisis in Ukraine, the decline in inflation in Europe, emerging debt in China and changes to oil prices.