Businesspeople 'may need to spend more on travel money cards'
The cost of business travel is set to increase in the coming year, which may mean individuals who need to work abroad will have to put more money on their prepaid travel cards.
According to AMEX Global Business Travel, hotel rates and airfares will increase "across the board" in 2012.
The firm's Travel Global Forecast revealed that the Asia Pacific region is likely to see the largest increase in prices, with short-haul fares rising six per cent and long-haul trips costing up to ten per cent more.
People planning to stay in hotels in this area may have to spend up to six or ten per cent more on their travel credit cards than they did this year.
Christa Degnan Manning, director of Expert Insights research for American Express Global Business Travel, commented: "We expect the combination of demand and effective travel supplier yield management to likely push rates business travellers pay up across the board in 2012."
In December last year, the credit card provider asserted that business travel fares had risen to a level close to that seen before the recession.