Costs of air fares and hotel rooms around the Asia-Pacific are set to rise next year, concludes the latest American Express Global Business Travel Forecast
In 2010, prices for domestic Economy Class seats prices are expected to go up by between three and eight percent, while those in international Business Class could increase between one and six percent.
Both mid- and upper-range hotels will likely see their rates grow by one and six percent.
“We predict hotel rates will rise more than other parts of the world as our region has escaped some of the protracted recession experienced in North America and Europe,” said Jonas Borglin, American Express Business Travel Advisory Services regional head. Upper-tier hotels will drop in prices in every region in the world except for Asia-Pacific.
Breaking down the figures into countries, China, India, Japan and Singapore will lead in terms of domestic airfares with 3 to 8 percent growth. Australia is slightly behind with one to six percent growth.