Business travellers continue to be on the move, with the aviation and hospitality sector reporting steady growth in demand. Photo Credit: Adobe Stock/Maridav
The desire for in-person meetings, conferences and events, and a
travel industry on the upswing has led to strong passenger demand and
positive growth for business travel, according to a recent report.
The Global Trends Report published by FCM Consulting has found that
global passenger demand has increased by almost 10% this June compared
to the same time last year, while international passenger demand saw the
largest growth of 12.3%.
“This calendar year is the new baseline for aviation growth after
2023, and 2025 airline schedules are forecast to be positive with
continued increases,” said Felicity Burke, head of FCM Consulting.
“Global hotel occupancy has also climbed to nearly 70% by the end of
H1-2024, and air travel demand grew steadily throughout the same period.
As the northern hemisphere summer emerges, we forecast travel demand to
grow steadily through the next quarter.”
Meanwhile, international economy and business class fares for all
destinations from Singapore saw a dip in 12% and 4% respectively from
April to June this year. Average room rates in Asia have also mostly
remained steady, a year after China’s border reopening.
“Singapore remains the priciest destination for hotel stays, with
rates averaging US$298 – a 27% increase compared to the first quarter of
2024 – followed by Hong Kong and Tokyo,” said Kenji Soh, general
manager of FCM Travel Southeast Asia.