Air, Hotel and Car rental rates set to rise in 20076 February 2007
Continuing demand for corporate travel without a commensurate lift in supply will push costs higher across the board in 2007, according to the American Express Global Business Travel Forecast. Air fares worldwide are expected to increase â€“ though at a slower pace than in 2006 â€“while hotels rates will remain at heightened 2006 levels and surge in key business centers.
â€œKeeping executives on the road while holding budgets in check will be a challenge for organizations in 2007,â€ said Mike Streit, Vice President and Global Leader for American Express Business Travel, Advisory Services. â€œFor instance, as compared to 2006, the Forecast indicates an average domestic North America trip inclusive of air fare, car rental and hotel stay will increase $46 USD or 4.5 percent in 2007, and an average international trip with its air fare and hotel stay will increase $180 USD or 4.6 percent.â€