Fast rate of global economy growth and rising oil prices will result in increase in air travel costs in 2019, Reuters informs with the reference to reports of Carlson Wagonlit Travel (CWT) and Global Business Travel Association (GBTA). Air fares will grow up 2,6%, hotel rooms rise will be up to 3,7%.

In some countries, including New Zealand, Norway, Germany and Chile, air fares will increase by more than 7%. According to CWT/GBTA forecast, this year price growth will be 3,5%.

Hotel room rates growth is caused by strengthening demand for air travel, which will support need for rooms. Room rates will rise by more than 5% in Asia and Europe, by 2,1% in North America and decline by 1,3% in Latin America.

Hotel companies, including French Accor SA and American Marriott International Inc, showed strong revenue per room growth in Asia and Europe.

As well as in other sectors of world economy, air travel sector will be potentially under such risks as growing protectionism, threat of trade war and Brexit.