Survey: 40% Expect Business Travel To Resume By June
Global Business Travel Association members are either overly confident about when normality will resume, or underestimate the seriousness of the COVID-19 crisis.
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Global business travel spending reached $1.33 trillion in 2017, advancing 5.8% over 2016 levels, according to the GBTA BTI Outlook – Annual Global Report & Forecast, a new report released yesterday at GBTA Convention 2018 by the Global Business Travel Association. Spending is forecast to advance another 7.1% in 2018 and will expand to $1.7 trillion by 2022.
“This pick-up in growth could signify an end to the ‘Era of Uncertainty’ in global business travel, but rising protectionism is coming at precisely the wrong time,” said Michael W. McCormick, GBTA executive director and COO. “The direction of trade policy is far and away the biggest wild card that could impact our forecast for global business creating uncertainty that could derail the recovery.”
Related Topics: business growth, business travel, business trends, corporate travel, GBTA, industry trends, research and trends, revenue growth
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