Cheap Airfare Will Power Corporate Travel Growth in 2017 Says Report
Skift Take
Global conditions remain solid for global business travel next year. Hotels are cheap, and airfares are slated for a minor increase. Increased air travel options in China are making it easier for business travelers in North America to visit Asia's strongest economic power.
So far, 2016 has been a mixed bag for corporate travel.
The strength of the U.S. dollar, along with terror fears and a stagnant global economy, led many international companies to reduce their travel spend. Mediocre economic growth in Europe and South America also contributed to the malaise.
Yet, emerging markets are expected to continue their business travel growth as business travel remains cheap, according to Advito's 2017 industry forecast report.
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"Emerging markets are set for a stronger economic performance in 2017," the report states. "At 4.2 percent, growth will surpass the 3.5 percent forecast for 2016. This improvement is largely driven by Latin America, primarily due to Brazil, which is expected to emerge from a prolonged recession, but also because of stronger growth from Argentina and Colombia.
"Asia remains the main source of emerging market activity. It will expand, on aggregate, by 5.6 percent in 2017. T
