Home Breadcrumb caret Industry News Breadcrumb caret Industry Breadcrumb caret Planning and Advice Breadcrumb caret Practice Travel more cheaply in 2014 Plan out business trips early to take advantage of trends. By Staff | December 4, 2013 | Last updated on December 4, 2013 2 min read If you’re planning business trips, check out the most recent Global Business Travel Forecast. That forecast, released by American Express, is designed to help executives determine their travel budgets. This year’s version looks at 2014 predictions for airfare, hotel and ground transportation costs. Read: Food to avoid in the business-class lounge The good news is the U.S.-Canada border fees of several budget airlines may fall. Ticket prices may also decrease because low-cost carriers are going to introduce more economy versus business seats, and they’ll also take on more passengers for international flights. Read: Gifts for travellers The forecast finds more short-haul routes to major U.S. destinations may be offered in 2014 since some economy airlines are planning to add new flight paths, while also expanding their fleets. Even better, an increase in low-cost options may force larger airlines to cut ticket prices. Read: Travel stocks are going places Search for innovative companies Unfortunately, ground transportation and hotel expenses are expected to rise, says the forecast. Prices are anticipated to climb between 1% and 1.5% in the ground transportation sector due to rising maintenance costs. In the hotel sector, room prices may jump by as much as 6.4% (for both mid-range and upper-range hotels) due to local trends in major cities such as Toronto, Montreal and Calgary. Read: Tourism industry a moneymaker Forecast highlights: Demand is high in Toronto’s hotel market. The sector has grown 3.4% year-over-year and will continue to expand in 2014. Though airfare prices are expected to drop, any declines may be offset by pending consolidation among major U.S. airlines. Predicted hotel rates in North America are expected to climb between 3% and 6% in 2014. However, secondary travel locations have become saturated with supply and prices will be more competitive in those regions. Read: Budget busters: 10 costliest cities to visit Travellers bring underwear, forget insurance Trim those nose hairs: China issues travel etiquette guide Prepare clients for vacation emergencies Prospecting on vacation Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo