Industry Research

GBTA Projects 4.3% Rise In Business Travel Spending This Year

Posted on July 9, 2013

The Global Business Travel Association increased its outlook for U.S. business travel spending this year, thanks in part to stronger projections for domestic business travel.

GBTA projects total U.S. business travel spending this year will reach $273.3 billion, 4.3% higher than last year's level and up from its April 2013 projection of $268.5 billion. GBTA executive director and COO Michael McCormick noted a "rise in domestic travel spending" as "companies are seizing on opportunities closer to home." At the same time, due to weaker economies in Europe and China, the organization lowered its projection for international outbound travel spending from the United States to $33.1 billion from $33.3 billion in the April forecast. The new figure still represents a 3% increase from 2012 levels.

While travel cost increases are driving much of the higher spending forecasts, GBTA projected that 2013 U.S. spending per business trip would increase by 1.3% year over year after accounting for price inflation. However, GBTA projected the actual number of 2013 trips taken by U.S. business travelers to decline 0.4% year over year, however. Similarly, the organization projects the number of U.S. trips for group business travel to decline 0.3% this year, but group travel spending to be up 5.3% to $117.1 billion.

GBTA said spending increases should continue in 2014, with U.S. business travel spending to increase 6.9% year over year, and the number of trips to increase 1.5%.

Source: Business Travel News

View comments or post a comment on this story. (0 Comments)

More News

US Leisure Travel Growth Pace Slowing Into 2017

While it still leads the domestic market, the amount of forward-looking bookings and vacation intentions are lower.

Global Lux Travel Market To Reach $1.1 Billion By 2022

For unforgettable experiences, people increasingly opt for unique trips like cultural visits, cruising, and adventure excursions.

Luxury Travel Industry To Reach $1.2 Billion By 2020

Affluent consumers are highly interested in unique experiences, focusing on adventure.

Luxury Travel Market Looks Healthy For 2017

One of the biggest trends is the use of “Millennial” as a term that defines how people would like to travel. 

What Will 2017 Bring To The World Of Business Travel?

Car rental brands are losing customers to growing transportation network companies.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - December 2016 $12.95 GLOBAL/INTERNATIONAL ISSUE COVER STORY: * The Coolest Operators on the Planet * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close