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 stabilizing 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 to rise as key cities report high occupancy. Hotel rates saw an average increase, with properties in gateway cities more than half full (September 2024 year to date). While the global average daily rate for car hire dropped 30% (vs Q3-2023) to US$52, above-average prices remain in India and mainland Europe - especially Germany, France, and Italy.

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Key business travel trend 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.  
  • Europe and the Americas saw hotel rates increase, while decreases were noted in APAC and Middle East & Africa.   
  • Car rental global average daily rates decreased 30% in Q3-2024 vs the same quarter last year. 

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

 

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