Airfares, hotel rates forecast to increase in 2020

Kolkata: Be prepared to shell out more from your wallet, when you are flying and footing your hotel bills.

Unlike the global travel industry scenario, India’s strong economic growth is fueling a greater demand for business travel and driving up prices. Airfares are predicted to increase 5 per cent (in local currency terms; 0 per cent in dollar terms), while hotel rates and ground transport prices are expected to climb 6.8 per cent (1.8 per cent in dollar terms) and 4.5 per cent (- 0.5 per cent in dollar terms), respectively. After posting sharp rises in 2019, prices in the global travel industry are likely to slow in 2020, with flights rising a modest 1.2 per cent, hotels rising only 1.3 per cent, and rental car rates up 1 per cent (in dollar terms).