An overwhelming majority of respondents to our latest poll (97%) have indicated that airline ticket prices for the upcoming tourist high season are higher than at this time last year.
Globally, the cost of air travel was expected to become significantly lower post-COVID, as airlines steadily rebuilt their capacities. Despite IATA data showing that total passenger capacity worldwide is now exceeding 2019 levels, and many international airlines posting record revenues, the sector has cited rising inflation, the high cost of jet fuel and stricter environmental regulations as reasons for rising operational costs. This is being pushed on to the consumer in the form of higher ticket prices.
Will the G20 Summit catalyse long-term MICE growth?
As recently reported by Tourism Update, South Africa’s hosting of next year’s G20 Leaders’ Summit in November, together with a range of lead-up events, is expected to bring massive gains for hospitality, tourism and the broader economy.
The Department of International Relations and Cooperation said that R194 million (€10.3 million) had been set aside for the country to host the Leaders’ Summit, with the money to be spent on venues, facilities, interpreters, catering, accommodation and ground transport.
We want to know whether you believe that the G20 Summit will not only deliver once-off revenues, but also stimulate future growth of the MICE sector.
Our poll question this week is:
