30 Nov 2022

Here's what South Africans can expect the business travel industry to look like in 2023

South Africa eased its final lockdown restrictions earlier this year, allowing virtual meetings to take place in person and creating new opportunities for business travel to return to pre-pandemic levels. While this news is a source of relief for the travel industry, it could come at a cost for travellers.

Why businesses should anticipate hotel rate increases

According to a 2023 Global Business Travel Forecast https://www.mycwt.com/global-business-travel-forecast/#pdf report, the cost of business travel, from hotels to airfares, will rise in the next year. The report highlights the growing demand for face-to-face business interactions and other factors, such as geopolitical uncertainties, inflationary pressures, and labour shortages, as the contributing factors.

Hotels, like any other profit-making organisation, set their prices and rates based on supply and demand. In other words, when the need for rooms is high and the availability of rooms is low, room rates will go up.

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Source: Bizcommunity