The Air Monitor 2023 report from American Express Global Business Travel collects the annual forecast of price changes on the world's major business travel routes.

Airfares will increase globally in 2023 due to factors such as inflation, rising interest rates, airline capacity and fuel prices, according to the Air Monitor 2023 report published by American Express Global Business Travel. On routes to and from Spain, business class tickets are forecast to be 10.5% more expensive next year, while South America is expected to see a 9% increase.

The annual forecast of airfare movements on the world's major business travel routes reveals notable differences by region or even hemisphere. While fares on routes between Europe and North America will experience a moderate increase of 3.7% in both cabins, prices on intra-European flights will rise by 6% in business class and 5.5% in economy. The increase will be more pronounced in Asia and Oceania, with a rise of up to 19.4% (in business class) on domestic flights in Australia, and 12% (in economy) on routes between Asia and Europe.

The report analyzes the main trends influencing these changes, such as inflation and rising fuel surcharges. It predicts that, by 2023, airlines will recover 92% of their pre-pandemic capacity, but will continue to experience supply chain problems and staff shortages. It also highlights that, despite attempts by airlines to reduce carbon emissions by using sustainable fuel, this currently represents only 0.1% of all fuel used due to a lack of suppliers. In addition, the study offers advice on how to manage airline programs more effectively, prioritizing the traveler experience.