As the world of corporate travel evolves, global travel management company FCM has conducted a comprehensive analysis of cabin class bookings in Asia for the year 2023, comparing them to the pre-pandemic year of 2019.

China: Economy class on the rise

In China, the data reveals a significant shift in cabin class preferences. The largest increase was seen in economy class bookings, which surged by 19%. This substantial rise can be attributed to the economic conditions in the region.

Meanwhile, business-class bookings experienced a more modest increase of 0.4%. Premium economy and first-class bookings saw marginal decreases of 1% and 0.1%, respectively, compared to 2019.

Singapore: Steady cabin class patterns

In Singapore, where air capacity has reached 88%, the cabin class booking patterns have remained relatively stable. Economy class bookings in FCM Singapore saw an uplift of more than 4.7%, contributing to an overall growth in bookings compared to 2019.

Business class bookings increased by 1.7%, and premium economy class saw a 0.1% increase. First-class bookings experienced a minimal dip of 0.02%.

India: Domestic travel drives economy bookings

In India, the increase in economy class and premium economy class bookings can be attributed to the surge in domestic travel within the same period.

Economy class bookings increased by 3%, and premium economy class bookings saw a 1.7% uptick. However, with international travel capacity not yet back to 2019 levels, there were nominal decreases of 1.3% and 3.8% in first-class and business-class bookings, respectively.

Malaysia: Domestic market boosts bookings

Malaysia, another domestic-driven market, experienced an 8.6% increase in bookings in 2023 compared to 2019. Economy class bookings grew by 2%, and business class bookings saw a slight increase of 0.16%. Premium economy class and first-class bookings remained relatively stable during this period.

Hong Kong: Recovery on the horizon

While Hong Kong has faced unique challenges, it is gradually catching up with the rest of Asia. FCM observed a dip in all four cabin class bookings. However, as air capacity increases month by month, the projections indicate that Hong Kong could potentially reach 78% seat capacity by November 2024. FCM Asia anticipates increased bookings across all cabin classes in line with the ongoing recovery of air capacity.