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
June 30,2020

Six months since the new coronavirus outbreak, the pandemic is still far from over, the World Health Organization said Monday, warning that "the worst is yet to come".

Reaching the half-year milestone just as the death toll surpassed 500,000 and the number of confirmed infections topped 10 million, the WHO said it was a moment to recommit to the fight to save lives.

"Six months ago, none of us could have imagined how our world -- and our lives -- would be thrown into turmoil by this new virus," WHO chief Tedros Adhanom Ghebreyesus told a virtual briefing.

"We all want this to be over. We all want to get on with our lives. But the hard reality is this is not even close to being over.

"Although many countries have made some progress, globally the pandemic is actually speeding up.

"We're all in this together, and we're all in this for the long haul.

"We will need even greater stores of resilience, patience, humility and generosity in the months ahead.

"We have already lost so much -- but we cannot lose hope."

Tedros also said that the pandemic had brought out the best and worst humanity, citing acts of kindness and solidarity, but also misinformation and the politicisation of the virus.

In an atmosphere of global political division and fractures on a national level, "the worst is yet to come. I'm sorry to say that," he said.

"With this kind of environment and condition, we fear the worst."

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Agencies
March 29,2020

A shrimp seller at the wet market in the Chinese city of Wuhan believed to be the centre of the coronavirus pandemic, may be the first person to have tested positive for the disease, a media report said on Saturday.

The report by the London-based Metro newspaper said that 57-year-old woman, named by the Wall Street Journal as Wei Guixian, was selling shrimp at the Huanan Seafood Market when she developed what she thought was a cold last December.

Chinese digital news outlet, The Paper has said that she may be epatient zero'.

Wei was told by doctors her illness was "ruthless" and other workers at the market had come to the Wuhan Union Hospital with the same symptoms, the Metro newspaper report quoted the outlet as saying.

"Every winter, I suffer from the flu, so I thought it was the flu," the woman was quoted as saying by The Paper news outlet.

The shrimp seller added that she believed she contracted the coronavirus from the shared toilet in the market.

She said the fatal disease would have killed fewer people if the government had acted sooner.

Wuhan Municipal Health Commission has confirmed that Wei was among the first 27 people to test positive for the coronavirus.

It said she was one of 24 cases with direct links to the market, the Metro newspaper reported.

Though Wei may be "patient zero", it does not mean she is the first person to have contracted the virus, added the Metro report.

Chinese researchers have claimed that the first person diagnosed with the airborne virus had no contact with the seafood market and was identified on December 1, 2019.

Wei was later quarantined when a connection was made between the bug and the market before recovering in January.

As of Saturday, the global number of coronavirus cases stood at 104,837 with 27,862 deaths, according to the latest update by the Washington-based Johns Hopkins University.

The US has the highest number of cases at 104,837, followed by Italy 86,498 and China 81,948.

Italy has recorded the highest number of fatalities with 9,134 deaths, followed by Spain and China, at 5,138 and 3,299, respectively.

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News Network
February 19,2020

Beijing, Feb 19: The death count from China's new coronavirus epidemic jumped to 2,000 on Wednesday after 132 more people died in Hubei province, the hard-hit epicentre of the outbreak.

In its daily update, the province's health commission also reported 1,693 new cases of people infected with the virus.

This brings the total number of cases in mainland China past 74,000.

Most of the cases are in Hubei, where the virus first emerged in December before spiralling into a nationwide epidemic.

Wednesday's jump in the death count was an increase on Tuesday's figures, although the number of new cases reported in Hubei were the lowest for a week.

A study released by Chinese officials claimed most patients have mild cases of the illness.

Outside of hardest-hit Hubei, which has been effectively locked down to try to contain the virus, the number of new cases has been slowing and China's national health authority has said this is a sign the outbreak is under control.

President Xi Jinping, in a phone call with the British prime minister, said China's measures were achieving "visible progress", according to state media Tuesday.

However, the World Health Organization has cautioned that it was too early to tell if the decline would continue.

On Tuesday the director of a hospital in the central Hubei city of Wuhan became the seventh medical worker to succumb to the COVID-19 illness.

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