Economists expect the global economy to continue improving in 2015, despite concerns about instability in the Middle East and Ukraine. Oxford Economics forecasts growth of 3.1%, up from 2.6% in 2014. Corporate travel is on the up too, with demand likely to grow more quickly in 2015. However, we don’t expect airfares to rise sharply. In many regions, especially Asia and Europe, competition is also growing, largely from low-cost carriers (LCCs) on short-haul routes and Middle Eastern airlines in long-haul markets.
2015 Industry Forecast
