The 2015 Global Travel Price Outlook (GTPO) report states that compliance and short lead times will be the key issues facing global event planners in 2015.
The report also predicts that events will become more domestic as meetings and events at mid-price hotels grow in popularity.
In the UK business travel sector, hotel prices are expected to increase by 3.5%, with air travel prices increasing a further 1%. As a result, business travel spending will rise by 5.1% in 2015.
Joseph Bates, vice president of research at the GBTA Foundation, said: "The study reveals that travel managers expect price increases next year across the board on travel categories including airfares, hotel room rates and rental car rates.
"The Ukraine crisis; declining European inflation; burgeoning debt in China and oil price shocks could potentially have a negative influence on travel demand and pricing so travel managers are advised to consider contingencies for these risks in their planning."
The GTPO report, carried out by CWT and the the GBTA Foundation – the education and research arm of the Global Business Travel Association (GBTA) – aims to give an indication of what businesses can expect in 2015.