Advito has updated its annual forecast of economic trends that impact the business travel industry and found companies in North America, Africa and Asia expect to pay less for intercontinental business class air travel in 2017 than was projected three months ago, the company said.
The company said it forecasts intercontinental air fares will fall or stay flat in most regions as outlook for world economy is stable, and oil price assumption holds at USD50 per barrel.
Advito said its December update said the use of identity management to improve the customer journey and continued enhancement of seamless connections are most likely to capture the interest of corporate travel and procurement leaders.
The company publishes this annual industry forecast to give travel and procurement managers a range of projected price movements they can use to benchmark success against key performance indicators and prepare for supplier negotiations and budgeting.
Advito, based in Chicago, provides consultancy services to the travel industry, enabling procurement leaders to modernize their approach to managing the travel.