According to forecasts in the “Industry Forecast 2019” report from BCD Travel, hotel rates in Morocco and Ethiopia are expected to fall in 2019, contrary to the upward trend in global hotel rates and in Africa.
Global hotel rates will increase between 1% and 3% in 2019, with growth in demand narrowly outpacing supply in most markets. “Our forecasts assume little variation on a regional scale with prices expected to increase by 0 to 2% or 1 to 3%. Much larger increases are expected to occur in some countries, such as India, where we expect tariffs to rise by 6-8%. Lower prices are expected in African markets, particularly in Ethiopia and Morocco,” underlines the “Industry Forecast 2019” report available on the web.
Indeed, in Africa, prices for intercontinental flights will not change in 2019, but prices for regional flights will increase by 1% as a result of stronger demand.
Escalating trade tensions and rising oil prices will lead to a slowdown in global economic growth in 2019 according to the same report.
Advanced economies will be hardest hit, with Europe and North America losing momentum. But 2019 will once again be a good year for emerging markets. Latin America is expected to perform much better, while growth in Africa and the Middle East will also continue to improve.
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