Airfares and hotel room rates higher in Asia

28-08-23

According to FCM Consulting’s latest Global Trends Report, Q2-2023 is one of two halves. One sees the Northern Hemisphere push travel demand over summer, while the other sees the rest of the world plateau. The volume of business trips increases, and travel patterns stabilise although disruption remains due to extreme weather and airport staffing shortages. 

“Although airfares and hotel room rates remained high in Asia, businesses can still stretch their travel budget with the advice from their travel management consultants, by planning in advance, as well as leveraging technology,” said Gaurav Luthra, Managing Director of FCM India. 

Domestic air travel demand is strong in most major markets such as China which is just 1 per cent lower than in 2019. Japan has seen an increase of 20 per cent and 13 per cent in India. This increase is due to competition between airlines, staffing capabilities, economic climate, and demand and supply.