Prices up in 2015, says AmEx Global Business Travel Forecast

An improving U.S. economy will cause price increases for air, hotel and ground transportation across North America, according to the American Express Global Business Travel Forecast 2015 released this week.

The report predicts that Canadian air and hotel suppliers are expected to benefit from this improvement, as well as a stable domestic economy.  Increased business travel combined with weak competition in the airline industry and nominal room supply growth in major cities including Toronto, Vancouver and Montreal will make price increases in 2015 likely, said the report.

Overall, the report predicts that globally, prices for air, hotel and ground transportation will be neutral to slightly higher across all regions in 2015.