Airlines and hoteliers will feel the pinch from a ‘subdued economic growth’ forecasted for the Asia Pacific region in 2015. According to an American Express Global Business Travel Forecast, hotel and ground transportation prices are predicted to be flat to slightly higher in 2015, and domestic airfares are predicted to plateau while international rates are to drop. Contributing to the cautious business outlook is decelerating growth in China combined with a slowdown in the resources sector. With Australian companies expected to tighten their belts on corporate travel policies, new business class offerings coming online will face stiffer competition with companies expected to review staff entitlements. Click here to learn more about how these trends may affect your business.

Via Tourism Australia