Our Year-end Special shows 2004 has turned out a much better year compared with 2003 for the Asian corporate travel market overall, and there is much we can look forward to in 2005.

This year, among the plusses are: a corporate travel bounceback; the entry of low-cost carriers, which has kept legacies on their toes; and growing awareness of online tools and the value of TMCs. Just look at the deal Siam Cement has signed with Amadeus, for instance.

With massive new markets such as China and India; with the return of the Japan market; and with established markets such as Australia and Singapore showing growth, Asia-Pacific is the region everyone wants to be in.

Profitability, however, will remain one of the main challenges for almost everyone. Although corporate travel demand is expected to rise significantly in 2005, beating even 2002 levels, airlines, hotels and TMCs cannot expect greater profits as yield is likely to remain low or not rise as high as demand, due to more players in the field and little product or service segmentation.

This being our last issue of the year, the team and I wish you a happy and prosperous 2005.
Raini Hamdi
Editor