FCM Consulting’s Q3-2024 Global Quarterly Trend Report

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While economic uncertainty remains around the world, 2024 has continued to be a strong year for the travel industry. With flights 86.2% full in August 2024 and prices stabilising for economy and business fares in Q3-2024, airlines are now looking to further grow services and schedules to meet demand in 2025.  

On the ground, the average room rate for hotels is set to continue rising as key cities report high occupancy. Hotel rates in every region around the world saw an average increase, with properties in gateway cities more than half full. While hotels appear to be climbing, car hire took a back seat. The global average daily rate for car hire dropped 30% (vs. Q3-2023) to US$52, and similar patterns occurred in Australia and New Zealand. 

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Key business travel trends takeaways from Q3-2024

  • Global airline capacity is expected to reach new heights in H1-2025.  
  • Airline income from ancillaries (bags, meals etc) increased 32.5% in 2023 vs 2022.  
  • Asia-Pacific (APAC), Middle East, and Africa saw hotel rates decrease, while Europe and the Americas noted rate rises.  
  • Car hire global average daily rates decreased by 30% in Q3-2024 compared to last year's quarter. 

Empower your travel program with global insights and data points. Download FCM Consulting’s Q3-2024 Global Trend Report today. 

 

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