Business Class air travel continues to drop, worldwide
According to recent report by IATA (International Air Transport Association) premium travel (business and first class) slowed in January by up 3.3 per cent year-on-year but down on the December result of 4.5 per cent. At the same time, economy class passenger numbers were up 2.9 per cent in January year-on-year, also a slowdown on December growth of 4.2 per cent.
Despite boom in travel over the Chinese New Year, demand for premium travel remained weak. Unlike the wealthy in Brazil, Mexico, Colombia and Russia, which value premium travel, Chinese and Indian travellers may spend high on luxury shopping abroad but would not put an emphasis on travel, sufficing with economy air travel and 4 star accommodation.