Business travel revival expected next year :: 13/08/2009 :: Airport Parking News
Although business travel is down by 15 per cent this year, it is expected to recover by 2010.
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Business travel revival expected next year
Thursday, 13th August 2009
HIS Global Insight conducted a study in co-operation with the National Business Travel Association that was sponsored by Egencia, which has led to a prediction of a 1.2 per cent growth rate annually for the travel industry during a five year period ending in 2013.
There have been some recent signs of an uptick in the travel industry. Cathay Pacific Airways recently reported a return to profitability in the second quarter, as gains in fuel hedging compensated for decreased cargo and passenger demand.
The chairman of Cathay Pacific, Christopher Pratt, said: “There is still no sign of early recovery,” adding: “The best we can say at the moment is the worst may now be over.”
Online travel agency Orbitz WorldWide has also been bucking the downward trend, posting a profit for the second quarter, fuelled in part by increased booking transactions and the company’s cost-cutting efforts.
The Orbitz chief executive, Barney Harford, said that he felt declining demand was in the past: “What we're seeing is stabilization in terms of demand. We're seeing stabilization in terms of average daily rates on hotels. But I don't think we're seeing any major signs of any kind of uptick.”
← BA outlook unchanged on slight traffic rise
→ JetBlue pass allows unlimited air travel
↑ August 2009 news index
