Airfares to increase 5%, hotel rates 6.8% in 2020: Report

Mumbai: With India’s strong economic growth fueling demand for business travel, airfares, hotel rates and ground transport prices are expected to increase in 2020, according to a report.

While airfare is likely to grow by 5% (in Rupees terms) the hotel rates and ground transport prices are likely to climb up by 6.8% and 4.5% (USD terms), respectively, according to the sixth annual Global Travel Forecast published by CWT and GBTA (the Global Business Travel Association) on Wednesday.

“Earlier this year we saw a spike in airfares after Jet Airways ceased its operations in April, so we’re already at a high base in 2019,” Business-to-Business-for-Employees travel management platform CWT, India, CEO Vishal Sinha said quoting the Forecast.