Thanks to Singapore’s reputation as a “global hot spot”, increased business travel demand is driving up air travel prices.
According to the 2016 Global Travel Price Outlook, air fares in Singapore are likely to increase by 3 percent - the highest in the Asia-Pacific region. Other countries such as India, China, Colombia, Mexico and Australia are expected to top the list of airfare increases next year.
The report added that a seventh country, Venezuela, could experience a 6.3 percent jump in prices due to high inflation, the drop in oil prices and their currency being fixed to the US dollar.
It’s not just the air fares, but hotel prices are also expected to increase globally in 2016. High demand in major U.S. cities could result in a 4.3 per cent rate increase, while in the Asia-Pacific region, hotel prices are expected to increase by 3 per cent, and the list is led by none other than Singapore.
Photo: Xiaojun Deng via Flickr
Thanks to Singapore’s reputation as a “global hot spot”, increased business travel demand is driving up air travel prices.
According to the 2016 Global Travel Price Outlook, air fares in Singapore are likely to increase by 3 percent - the highest in the Asia-Pacific region. Other countries such as India, China, Colombia, Mexico and Australia are expected to top the list of airfare increases next year.
The report added that a seventh country, Venezuela, could experience a 6.3 percent jump in prices due to high inflation, the drop in oil prices and their currency being fixed to the US dollar.
It’s not just the air fares, but hotel prices are also expected to increase globally in 2016. High demand in major U.S. cities could result in a 4.3 per cent rate increase, while in the Asia-Pacific region, hotel prices are expected to increase by 3 per cent, and the list is led by none other than Singapore.
Photo: Xiaojun Deng via Flickr