No more jet, set, go. Travelling is set to get expensive in 2018

For a big trip in 2018 you might want to start saving up now. A new report predicts that travel prices will rise sharply across air, hotel and ground transportation next year.

If you’re planning a big trip in 2018 you might want to start saving up now, as the findings of a new report predict that travel prices will rise sharply across air, hotel and ground transportation next year.

The reason? A stronger global economy, higher oil prices and rising demand from emerging markets, say analysts in the 2018 Global Travel Forecast, released jointly this week by global travel management company Carlson Wagonlit Travel, and The Global Business Travel Association Foundation.

“The higher pricing is a reflection of the stronger economy and growing demand,” said Carlson Wagonlit president and CEO Kurt Ekert in a statement. “The global numbers from this forecast should be considered strong leading indicators of what 2018 will mean for global businesses, as we anticipate higher spending.”

The sector that will see the biggest global increase is hotels, with average prices forecast to rise nearly 4%. In Western Europe that figure is expected to spike 6 percent, led notably by Norway, where hotel rates will increase 14%. When it comes to flights, travellers will likewise shell out more next year, with rising crude oil prices expected to drive up the cost of global airfares by 3.5%.

When it comes to flights, travellers will likewise shell out more next year, with rising crude oil prices.

And while global prices for ground transportation are expected to rise slightly to one percent, that figure shoots up to nearly five percent for Canada.

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