Corporate travel rebounding more quickly than anticipated
July 12, 2010 |
Overall global demand for corporate travel increased by 10.2 percent during the second quarter of 2010 compared with the same period one year ago, according to an analysis of client data by BCD Travel
Increased demand is resulting in higher air fares overall, with disparities among individual regions. Meanwhile, a sluggish recovery in some advanced markets, including Europe, and an abundance of room capacity in developing and emerging markets is keeping hotel rates down.
In response to a stronger global economic recovery than anticipated, Advito is revising earlier market projections in a second-quarter update to its 2010 Industry Forecast. In its April 2010 World Economic Outlook update, the International Monetary Fund reported world economic growth of 4.2 percent, compared to a contraction in 2009 of 0.6 percent. China led world economies in the second quarter of 2010, expanding by 10 percent over the same period in 2009.
Other key findings in Advito
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