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Business Class Fares to Europe Getting More Expensive in 2018

Business Class Fares to Europe Getting More Expensive in 2018

If your are a business traveler flying business class to or from North America in 2018, you should expect to pay higher airfares.

That’s one takeaway from American Express Global Business Travel’s new annual forecast. Long-haul business class airfares to and from North America are slated for increases of 3 to 5 percent. Among airlines, pricing for ancillary products are expected to rise, as well, and put pressure on travel budgets. By all indications, we’re in the midst of a business travel boom in regions across the world. With increased demand comes slightly higher prices. American Express Global Business Travel found that hotels rates, airfares, ground transportation costs, and even train fares are expected to rise throughout 2018.

Asia-Pacific will undergo the smallest increases globally, however, with prices relatively flat year-over-year. Economy-class travel prices in the Middle East and Africa, as well, could decline slightly over the course of the year.

Among airlines, pricing for ancillary products are expected to increase even further and put pressure on travel budgets. Long-haul business class will also see prices increased by airlines, with flights to and from North America slated for a 3 to 5 percent increase.

“Demand for air travel is rapidly expanding and while fares are expected to rise in every region, overcapacity on some routes, aggressive expansion by low-cost carriers, and historically low oil prices should keep price increases in check. However, while only modest fare increases are expected, airlines will continue to drive revenues through the expanded use of ancillary fees, which generated a remarkable $82.2 billion in 2017. Other key trends for 2018 include the increased use of unbundled fares by mainline carriers to better compete with low-cost airlines and the broader adoption of premium economy seating as a means of bridging the widening gap between economy and business class products.”

With the global economy looking up and travel increasing, it comes as no surprise that the business class rates will increase a bit.

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