Report from CWT and GBTA sees airfares rising 1.2 percent, hotels 1.3 percent and rental cars 1 percent >>
by: BTE
hotels 1.3 percent and rental car rates 1 percent, according to the sixth annual Global Travel Forecast from CWT and GBTA. While the global economy is doing well overall and expected to grow a solid 3.6 percent in 2020, said the report, a “raft” of uncertainties may put a damper on pricing. Kurt Ekert, CWT’s CEO, said 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 shocks and the growing likelihood of recession. He said this forecast will help travel buyers make the right decisions in an increasingly challenging environment. In North America, airfares are expected to increase 2.3 percent, hotel prices 2.3 percent and ground costs 1 percent.
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