According to the ITB World Travel Trends Report, commissioned by the world’s leading travel trade show and compiled by the consultancy IPK International, a short to mid-term rise in the price of airline tickets is to be expected worldwide. Travellers will have to bear the cost of anticipated increases in taxes and charges by paying extra for tickets, according to the report. The ITB World Travel Trends Report states that in order to become profitable again airlines will have to significantly adjust their ticket prices. The findings are based on the assessments of 60 tourism…
According to the ITB World Travel Trends Report, commissioned by the world’s leading travel trade show and compiled by the consultancy IPK International, a short to mid-term rise in the price of airline tickets is to be expected worldwide. Travellers will have to bear the cost of anticipated increases in taxes and charges by paying extra for tickets, according to the report. The ITB World Travel Trends Report states that in order to become profitable again airlines will have to significantly adjust their ticket prices. The findings are based on the assessments of 60 tourism experts from 30 countries, on a special IPK International trend analysis undertaken in leading source markets, and on core data supplied by the World Travel Monitor®, recognised as the largest ongoing survey of global travel trends in some 60 source countries. The report notes that “current airline prices are clearly too low to allow airlines to become profitable again“.
Despite the worldwide recession the ITB World Travel Trends Report expects commercial aviation to grow dynamically over the next two decades. The Chinese market is predicted to expand annually by around 8.4 per cent, followed by the Asian-Pacific region (6.9 per cent) and South America (estimated at 6.4 per cent). The European market is forecast to grow by 3.4 per cent, lagging significantly behind the expected global average growth rate of 4.9 per cent.
Dr. Martin Buck, Vice President CompetenceCenter Travel & Logistics, Messe Berlin: “The currently unanswered question facing the world’s airline industries is whether price-conscious consumers will continue to drive the downgrading trend we are seeing in bookings, or whether we will witness a return to the situation we had before the worldwide economic and financial crisis began. It also remains to be seen whether companies will limit their business travel to a minimum and how video conferences and other new forms of communication technology will influence travel behaviour.“
According to Dr. Martin Buck the recession has already had a positive effect: “The over-capacity of the world’s airline industries has been reduced and older planes which consume large amounts of kerosene have been taken out of service. In the short term a full recovery of demand is unlikely. Describing the situation he added that “flat is the new growth“.
Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
