Business travel in Asia is set to become more expensive next year due to the region’s strong economies, according to a survey by American Express.
The survey revealed that although business travel costs such as airfares, hotel and ground transport are expected to remain steady in North America and Europe, Asia and Latin America are set to see higher rises.
Dr Carl Jones, Director of Advisory Services in Japan, Asia Pacific and Australia, said “As business travel is both an essential part of global economic performance as well as an enabler of business growth, we expect the combination of demand and effective travel supplier yield management to likely push rates business travellers pay up across the board in 2012.”
“Overall the Asian market appears to be poised to continue on its growth track, and business travel activity is expected to remain strong as companies within the region and across the world send travellers there to capitalise on its economic expansion,” Dr Jones said. “Accordingly, airfares in Asia Pacific are generally expected to rise next year, especially for long-haul flights.”
However, the uncertain economic climate could lead to companies looking at alternatives to business travel next year as costs go up.
Dr Jones added that teleconferencing might become an option for companies to save costs.