Global Travel Prices to Increase Through 2023
Skift Take
- The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again.
- STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6.
- Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast.
The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again, down .01 to 2.79%. Lodging stocks were higher. The biggest mover was SOND, up 15%.
STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6. RevPAR was up 9.3% versus the same week in 2019.
Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast, published by CWT and the Global Business Travel Association. Rising fuel prices, labor shortages, and inflationary pressures in raw material costs are the primary drivers of the expected price growth. Prices have increased in all regions across most categories of spend, fueled by pent-up demand, a desire to build company culture and an uncertain economic outlook. The cost-per-atten
