Advito releases June Update to 2016 Industry Forecast

Advito: Traveler tracking, increased use of traveler apps and industry predictions in Advito’s June 2016 Industry Forecast Update

CHICAGO, June 14, 2016 – According to Advito’s June 2016 Industry Forecast Update, on-demand traveler tracking, continuous sourcing activities in lieu of an annual sourcing cycle and increased use of travel apps are among trends to watch for right now.

Other market findings in Advito’s June 2016 update include:

• Devaluation of currency poses a challenge in a number of emerging markets, particularly Latin America, which has seen large depreciations.
• World economy will grow slightly slower in 2016 than it did in 2015. Weak global demand means advanced economies are losing momentum as their exports struggle to find customers.
• Decreased oil price assumption to US$40 pb from US$50 pb, as we believe continued over-supply will delay any recovery in prices
• Growing amount of uncertainty clouding the outlook as commentators suggest the industry has reached a peak in business travel demand, confidence, hotel performance and airfares

The Advito 2016 Industry Forecast, released in September 2015, features special sections on travel risk and security, Airbnb, hotel program innovation and Lufthansa’s distribution cost charge.

Note to Editors:

Advito’s annual Industry Forecast and quarterly updates help corporate travel buyers establish cost baselines for negotiating discounted corporate rates with travel suppliers. In addition to publishing its findings on global airline fares by class and hotel rates by key markets, Advito also educates corporate travel buyers on emerging trends in travel technology, pricing and marketing that affect travel program costs and effectiveness.

About Advito

Advito is the travel industry’s most progressive consultancy, enabling procurement leaders to modernize their approach to managing the travel and meetings spend category. Led by a unique team of multi-disciplinary experts and thought leaders, we work with both clients and suppliers to push the boundaries of traditional air and hotel sourcing and strategic meetings management for higher program returns. We provide advisory, procurement and outsourcing services in the area of corporate travel sourcing, expense and meetings management, along with RFP development and management; benchmarking and vendor management services. We minimize our clients’ travel spend and maximize their travel program value in a data-rich, consumer empowered world. Headquartered in Chicago, Advito operates in key business markets around the world. For more information, visit www.advito.com.