Global airfares are set to become more expensive in 2025 even as gains moderate by the end of this year, according to a new report from American Express Global Business Travel Group Inc. But how would this affect traveller plans, particularly usage of hotel points and airline miles?

The survey noted that fares on most routes will rise between 2 per cent and 14 per cent, though the size of the increases will likely vary greatly by region. Increases in ticket prices next year are likely to more than erase any decreases before 2024, meaning some fares may return, Bloomberg estimates.