There will be widespread airfare price rises around the world in 2023, according to American Express Global Business Travel (Amex GBT)’s Air Monitor 2023 report. The research cited inflation, rising fuel costs and capacity issues as factors.

Europe and North America routes are expected to see modest rises of 3.7%, while intra-European flights could see stronger increases (6% in the business cabin, 5.5% in economy) as airline capacity recovery lags behind the resurgence of demand. North American domestic fares are expected to see moderate rises (3.4% business, 2.9% economy) as more capacity comes online in 2023.

In Asia, price increases are forecast to be sharper, with economy flights to and from Europe up 12%, (7.6% in the business cabin). Asia-North America flights are also slated to see significant rises (5.6% business, 9.8% economy). Some countries in the Asia-Pacific region have been slower to reopen after COVID-19 travel restrictions, and an increase in demand combined with relatively strong economic prospects could put upward pressure on prices.

Julie Avenel, vice president, global business consulting, said the volatile economic environment makes it challenging for travel teams to plan ahead. As consultants, she said, “we want to go beyond travel with our clients, and help them anticipate changes in our industry, so this report also looks at trends such as sustainability and the future of work, and asks how travel teams can respond.”

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