CHICAGO, IL – On-demand traveler tracking, continuous sourcing activities in lieu of an annual sourcing cycle and increased use of travel apps are among key corporate travel trends to watch, according to travel consultancy Advito’s June 2016 Industry Forecast Update.
Other market findings in Advito’s June 2016 update include:
• Devaluation of currency poses a challenge in a number of emerging markets, particularly Latin America, which has seen large depreciations.
• The world economy will grow slightly slower in 2016 than it did in 2015. Weak global demand leads advanced economies to lose momentum as their exports struggle to find customers.
• Advito is decreasing its oil price assumption to US$40 per barrel from US$50 pb, on expectations that continued over-supply will delay any recovery in prices.
• Growing uncertainty is clouding the corporate travel outlook with suggestions by some analysts that the industry has reached a peak in business travel demand, confidence, hotel performance and airfare sales.