2013 Industry Pulse: Business Travel Buyers Sentiment – Asia-Pacific
Statistics & Metrics
Date: March 7, 2013
About this Resource
•In 2012, Travel Buyers in the Asia-Pacific region most often feel the health of the overall economy is the same as it was a year ago (48%). Similarly, looking ahead one year from now, the same number of Travel Buyers feel the overall economy will stay the same.
•There is more positive sentiment regarding business travel conditions in the Asia-Pacific region in 2012, compared to the health of the overall economy. In 2012, over a third of Travel Buyers (37%) feel the business travel industry is doing better compared with a year ago, while 24% say it is worse.
-However, significantly fewer Travel Buyers in 2012 than 2010 believe the business travel industry is performing better than one year ago (37% vs. 79%).
-Furthermore, the share who feel the business travel industry will be in better shape one year from now has also dropped significantly (2012, 46% vs. 2010, 75%).
•The average travel spend in 2011 for companies represented in the sentiment survey was $55.7 million USD. Nearly half (47%) of this spend is attributed to airfare.
•Travel Buyers estimated total spend increased by 4.0% in 2012. Buyers expect an increase in their travel budgets of 3.9% in 2013, which is less than all of the anticipated increases in rates / fares, except for domestic car rentals.
•Although more trips (40%) and more travelers (36%) increase travel spend among Travel Buyers in the Asia-Pacific region, increased airline fees (55%), increased hotel fees (49%), and higher rates / fares (48%) are the most often cited contributors to larger travel budgets.
•Evidence that higher rates and fees are impacting travel budgets is found in the average rates / fees that Travel Buyers expect to pay in 2012 and 2013. With the exception of domestic car rentals, Travel Buyers estimated prices increased between 3.9% and 5.1% in 2012 and will increase between 4.5% and 5.2% in 2013.