Travel Exclusive: Key Trends for the Travel Industry September-October 2008

The September–October issue of Travel Exclusive takes a look at the latest Canadian Business Travel Outlook, a forecast on business travel based on a survey of Canadian organizations. The survey indicates that while travel volume among Canadian businesses is expected to increase by close to 5 per cent, growth in travel spending will be much lower, as companies continue to tighten their financial belts due to growing economic uncertainty in both Canada and the United States. Corporate-travel rates on airfares, hotels and car rentals are expected to continue to increase in 2009.

The issue also features highlights from Signal49 Research’s latest Industrial Outlook for Canada’s Accommodation Industry. The report suggests that economic uncertainty, enhanced security requirements and higher gas prices are hurting both travel demand and the accommodation industry’s anticipated profits, which are expected to drop by more than 10 per cent over the next two years.