BCD’s airfare forecasts have increased in a number of markets compared to predictions when the 2018 Industry Forecast was originally issued in September 2017. As the economic outlook improves, strong global air travel demand and rising oil prices are helping to push up fares. In response to supply constraint and increasing demand, BCD raised its oil price assumption from US$50 per barrel to US$60. “Our initial forecasts for 2018 remain largely on target. Intercontinental economy airfares will increase slightly more than our original forecast as the global economy continues to strengthen,” says Charuta Fadnis, BCD Travel’s senior director of research and analytics. The forecast reviews airfares in seven major regions for regional and intercontinental flights in business and economy classes, as well as projections for average daily hotel rates and economic growth assumptions. Midyear adjustments to the forecast with details by market are available in the full update. Previously published by Advito, BCD’s consulting group, the forecast is now being produced by BCD Travel’s Research & Intelligence team. Get the full story at BCD Travel