ALEXANDRIA, Va. -- U.S. business travel will grow only moderately in 2016 as global uncertainty looms, according to a key finding of the GBTA BTI Outlook: U.S. 2016 Q1
, a report by the Global Business Travel Association Foundation.
The GBTA Foundation is the education and research arm of the Global Business Travel Association (GBTA).
For the second release in a row, the forecast for U.S.-originated business travel has been slightly downgraded. The new report projects that business travel volume growth will increase slightly in the first quarter of 2016 – growing 1.8% on a year-over-year basis due to a number of domestic and international factors causing global uncertainty and corporate caution.
However, while the latest GBTA business travel forecast found that 2016 will resemble previous years with anemic but steady growth, there is cause for optimism about 2017 as the health of the global economy becomes clearer and a number of factors including the U.S. Presidential election and the possible “Brexit” of the United Kingdom from the EU become resolved later this year.
GBTA press release here