Global Travel Pricing Set to Slow Down in 2020; Flights to Rise 1.2%, Hotels 1.3%

Global Business Travel Association | August 2, 2019

MINNEAPOLIS & ALEXANDRIA, Va.-- August 2, 2019 -- After posting sharp rises in 2019, prices in the global travel industry are likely to slow in 2020, with flights rising a modest 1.2%, hotels rising only 1.3%, and rental car rates up 1%, according to the sixth annual Global Travel Forecast, published today by CWT and GBTA. While the global economy is doing well overall – and expected to grow a solid 3.6% in 2020 – a raft of uncertainties are set to put a damper on pricing. “The risks and ambiguity have increased over the past few months – not least the threat of escalating trade wars, the impact of Brexit, possible oil supply s...