BCD Travel predicts rise in global prices for 2020

Global hotel rates could increase by between 1 and 3 per cent, while air fares will go up 1 to 2 per cent, according to new predictions from BCD Travel.The TMC’s 2020 Industry Forecast shows hotel prices will be driven by solid demand keeping occupancy high in most regions. The TMCTravel Management Company: An agency which manages business travel for a company. said rate increases could be even higher in Asia (up between 2 and 4 per cent) – particularly in Japan, which will host the 2020 Summer Olympics, and Vietnam, where both leisure and business travel demand is holding strong.Europe will see strong demand drive meetings costs up 3 to 4 per cent, according to the forecast, while rates will also increase in Sydney and Auckland.