A new report from the Global Business Travel Association predicts that global business travel spending could reach $1.12 trillion in 2013. Michael J. Shapiro (Meetings and Conventions) writes about the report and states that the number would be a 5.4 percent increase from 2012. The GBTA BTI Outlook – Annual Report & Forecast “projects the spending to grow 8.2 percent in 2014, followed by year-over-year increases of 7.6 percent, 7.2 percent and 7.1 percent through 2017.” Having a major impact are developing markets, mainly those in the Latin America and Asia Pacific regions.
Global Business Travel Spending Projected to Grow by 8.2 Percent in 2014
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