Pent-up demand for business travel and in-person meetings is expected to boost global travel in 2010 after weak demand because of the global downturn, according to the American Express global business travel forecast.
The Canadian market is expected to see significant growth with business travel forecast to grow 15% next year. That's compared to an estimated 6% average increase in Asia and just a 1% increase in the U.S.
Increased business demand and capacity reductions in the airline and car rental sector, however, are likely to increase average travel costs.
An average domestic trip is expected to rise 1.2%, while international trips are forecast to increase by 2.4%.
Air travel and car rental costs are expected to rise higher in North America than in other regions in the world but will be offset slightly by declining hotel rates.