GBTA predicts further growth for business travel in 2011
July 13, 2011
The Global Business Travel Association's (GBTA) most recent Travel Quarterly Outlook for the U.S. shows that business travel spending and volumes are remaining steady, in spite of an economic slowdown. The GBTA's research suggests that this sector will continue to experience growth in the coming months and years.
"We've now hit a soft patch in the economic revival, but business travel spend levels tell us the recovery should continue as companies invest in driving future growth," said Michael W. McCormick, GBTA executive director and COO. "Now is the time when companies will absolutely call upon their strategic travel programs to help offset rising costs and keep travelers doing business."
Travel costs are up roughly 7 percent, but the Association still expects a 5.8 percent increase in business travel spending. Calling cards can provide an inexpensive way to stay in touch with loved ones while businessmen and women are traveling.
International business travel is a major contributing factor to the growth of this industry, as the GBTA predicts that expenses for traveling abroad will reach $107.2 billion this year, 6.8 percent more than overall spending in 2010.