This new Asia Pacific travel forecast provides companies a glimpse at what you and your globe-trotting business travelers can expect this year.
Just across the Pacific Ocean sits a collection of emerging markets, which means that many American companies are interested in an Asia Pacific travel forecast for 2019. If and when your business travelers are often visiting Hong Kong, Tokyo, Sydney and other centers of commerce in the region, even moderate price swings can make a serious impact on your bottom line.
The Global Business Travel Association (GBTA) recently published its 2019 Asia Pacific Business Travel Forecast. This report provides a good indication of what companies that often visit the Asia Pacific region can expect in regard to business travel this year — as well as how the Asia Pacific experience will compare to other global destinations.
General Business Travel Trends in the Asia Pacific Region
Price swings in 2019 will vary depending on what countries within the Asia Pacific region companies visit. Overall, air prices will rise 2.2% and hotel prices will rise 4.1%, but countries like Australia and Japan will experience relatively flat prices in both categories while China and India will experience more dramatic spikes.
Asia Pacific Air Prices for 2019
The GBTA report provides specific forecasts for some of the most-visited nations in the Asia Pacific region. Here’s a look at how air prices will shift in different countries in 2019:
Most-Visited Nation |
Price Shift |
| Australia | +.3% |
| China | +2.3% |
| India | +5.1% |
| Japan | +.5% |
| Overall | +2.2% |
Asia Pacific Hotel Prices for 2019
Similar to the forecast for air prices, the GBTA report also includes a rundown of how hotel prices are expected to change. Here’s a look at how hotel prices will shift in the same four countries:
Most-Visited Nation |
Price Shift |
| Australia | +2.2% |
| China | +5.3% |
| India | +2.3% |
| Japan | +1.1% |
| Overall | +4.3% |
Comparing Asia Pacific to the Rest of the World
This Asia Pacific travel forecast may be easier to digest within the context of price changes worldwide. Here’s a comparison of how air and hotel prices will shift in 2019 across different global regions:
Global Region |
Price Shift |
| Asia Pacific | +2.2% |
| Eastern Europe | -2.3% |
| Latin America | -2% |
| Middle East and Africa | -2% |
| North America | +1.8% |
| Western Europe | +4.8% |
Take a look at the same region-by-region comparison for hotel prices across the globe:
Global Region |
Price Shift |
| Asia Pacific | +4.3% |
| Eastern Europe | -1.9% |
| Latin America | -1.3% |
| Middle East and Africa | -1.5% |
| North America | +2.8% |
| Western Europe | +5.6% |
The numbers above demonstrate that Asia Pacific will experience some of the largest price increases in 2019, only behind the increases in Western Europe.
You won’t find this ideal if you’re an executive at a company that often sends team members to the Asia Pacific region. But, keep in mind that a closer evaluation of country-by-country price increases is needed to fully understand the impact these shifts will make on your global travel budget.
How Do You Manage Travel Spend?
As an executive, you know that managing travel spend is challenging, especially in a dynamic global marketplace in which prices change on a region-by-region and country-by-country basis. Is your company doing what’s need to optimize its travel spend?
At JTB Business Travel, we offer a range of solutions for businesses large and small, including spend management services that help you get more value out of your investment in business travel.
Get in touch to learn more about spend management and our other travel-related services.
Leave a Comment