Global airfares, hotel rates likely to rise in 2019

Agencies
July 24, 2018

Singapore, Jul 24: A strong global economy and rising oil prices are expected to push up the cost of air travel in 2019, with fares seen rising 2.6 percent and hotel rates up 3.7 percent, although there are downside risks from a trade war, according to an industry forecast.

In some countries, including India, New Zealand, Norway, Germany and Chile, airfares are expected to rise by more than 7 percent, said the annual business travel forecast from Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA) released on Tuesday.

“Speaking for the Asia-Pacific region, we are coming off a period three to four years ago where there was a lot of capacity in the system (and) fares were down pretty significantly, potentially lower than was sustainable,” said Michael Valkevich, CWT’s vice president for global sales & program management, Asia Pacific.

“So I think we are getting to a bit more of a renormalization of sustainable fares.”

The International Air Transport Association in June forecast passenger yields, a proxy for airfares, would rise by 3.2 percent this year in the first increase since 2011 as a stronger global economy drives growth in demand. CWT/GBTA predicted a 3.5 percent rise in airfares in 2018 in a forecast released last year.

Airline costs, including for fuel and labor, have been rising, leading carriers to attempt to push up fares or add fuel surcharges to maintain margins.

The CWT/GBTA 2019 forecast said the rise in hotel rates would be driven by an increased demand for air travel, which would fuel demand for rooms. Room rates are expected to rise by more than 5 percent in Asia and Europe, by 2.1 percent in North America and to fall by 1.3 percent in Latin America.

Hotel groups including France’s Accor SA and US-based Marriott International Inc. have reported strong growth in revenue per available room in Asia and Europe this year.

The CWT/GBTA forecast said despite its positive outlook, risks remained for the global economy in 2019 from the rise of protectionist policies, the stoking of trade wars and uncertainty over Britain’s exit from the European Union.

Valkevich said the US-China trade war had not yet led to any noticeable drop in demand for business travel, but it was a “downside risk factor” for the corporate travel industry.

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News Network
May 15,2020

May 15: Global deaths linked to the novel coronavirus passed 300,000 on Thursday, while reported cases of the virus are approaching 4.5 million, according to a news agency tally.

About half of the fatalities have been reported by the United States, the United Kingdom and Italy.

The first death linked to the disease was reported on January 10 in Wuhan, China. It took 91 days for the death toll to pass 100,000 and a further 16 days to reach 200,000, according to the Reuters tally of official reports from governments. It took 19 days to go from 200,000 to 300,000 deaths.

By comparison, an estimated 400,000 people die annually from malaria, one of the world’s most deadly infectious diseases.

The United States had reported more than 85,000 deaths from the new coronavirus, while the United Kingdom and Italy have reported over 30,000 fatalities each.

While the current trajectory of COVID-19 falls far short of the 1918 Spanish flu, which infected an estimated 500 million people, killing at least 10% of patients, public health experts worry the available data is underplaying the true impact of the pandemic.

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News Network
January 1,2020

New Delhi, Jan 1: Union Minister Prakash Javadekar launched a scathing attack on the Aam Aadmi Party and the Congress for allegedly inciting violence in Delhi against the Citizenship (Amendment) Act. Mr Javadekar said the violence over the amended citizenship law that broke out in areas like Jamia Nagar, Seelampur and Jama Masjid "cannot be forgiven".

"In Jamia, the Congress' Asib Khan and AAP's Amanatullah Khan delivered inciting speeches. They spread disinformation. The law is to give citizenship to people and not take citizenship away," Mr Javadekar told reporters.

He said the people of India understand the plans of the Congress and the AAP and both parties should apologise.

"We will bring out the truth. The fight is between anarchists and those who oppose them. Our agenda would be wholesome development of Delhi. The AAP strangulated municipal corporations' attempt on development. Rs 900 crore was not given. Today, the people of Delhi are surprised that the AAP slept through all these 4.5 years and in the remaining six months they have launched schemes," Mr Javadekar said.

"The work is done by someone else and the credit is taken by a different individual," the Union Minister said, referring to allegations that the government led by Chief Minister Arvind Kejriwal took credit for work done by BJP-ruled municipal agencies.

"Who did fogging in dengue season? Our corporations organised an awareness drive against water accumulation and dengue cases went down. During corporation polls, Kejriwal said don't choose BJP as dengue will claim lives. Now he is also claiming credit for decrease in dengue cases because of the work done by these corporations," Mr Javadekar said.

"I am an environment minister. We worked on pollution control. There is no limit to their (AAP's) lies. About unauthorised colonies, the AAP says we have not regularised it. We made a law signed by the President, yet they spread lies," Mr Javadekar said.

The election in Delhi will be held before the end of February.

Comments

Angry Indian
 - 
Wednesday, 1 Jan 2020

Wash you face with cow urine !!!

sorry sorry with DOG URINE...

you will be enlightened...

 

get lost moron...from wher u came....rat hole or A@@ hole

Fairman
 - 
Wednesday, 1 Jan 2020

Don’t pollute Delhi. Leave them alone.

Every citizen including your own BJP minded people all are very happy with Kerjrival and Aam Admi Party.

 

Every citizen in Delhi are very very happy.

For God sake leave alone, don’t disturb them as spoiled in other parts of the country.

 

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News Network
March 12,2020

Geneva, Mar 12: For the global economy, virus repercussions were profound, with increasing concerns of wealth- and job-wrecking recessions. U.S. stocks wiped out more than all the gains from a huge rally a day earlier as Wall Street continued to reel.

The Dow Jones Industrial Average dropped 1,464 points, bringing it 20% below its record set last month and putting it in what Wall Street calls a “bear market.” The broader S&P 500 is just 1 percentage point away from falling into bear territory and bringing to an end one of the greatest runs in Wall Street’s history.

WHO officials said they thought long and hard about labeling the crisis a pandemic — defined as sustained outbreaks in multiple regions of the world.

The risk of employing the term, Ryan said, is “if people use it as an excuse to give up.” But the benefit is “potentially of galvanizing the world to fight.”

Underscoring the mounting challenge: soaring numbers in the U.S. and Europe’s status as the new epicenter of the pandemic. While Italy exceeds 12,000 cases and the United States has topped 1,300, China reported a record low of just 15 new cases Thursday and three-fourths of its infected patients have recovered.

China’s totals of 80,793 cases and 3,169 deaths are a shrinking portion of the world’s more than 126,000 infections and 4,600 deaths.

“If you want to be blunt, Europe is the new China,” said Robert Redfield, the head of the U.S. Centers for Disease Control and Prevention.

With 12,462 cases and 827 deaths, Italy said all shops and businesses except pharmacies and grocery stores would be closed beginning Thursday and designated billions in financial relief to cushion economic shocks in its latest efforts to adjust to the fast-evolving crisis that silenced the usually bustling heart of the Catholic faith, St. Peter’s Square.

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