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Publié par | global-business-travel-association |
Publié le | 13 mars 2014 |
Nombre de lectures | 1 |
Langue | English |
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PR Newswire
LONDON, March 13, 2014
- Business Travel Spending Set To Grow 5.1% in 2014, 6.5% in 2015
- First Year Since 2010 Forecast Projects Increase in Business Travel Spend in all Five Markets
The Global Business Travel Association (GBTA), the voice of the global business travel industry, announces the results of its latest GBTA BTI™ Outlook – Western Europe report, a semi-annual analysis of the five most critical business travel markets in Europe: Germany, the UK, France, Italy and Spain. These five markets together form the lion's share of business travel in the region acting as a good barometer of the health of the entire European business travel market. The report, sponsored by Visa Inc., includes the GBTA BTI™; an index of business travel spending that distills market performance over a period of time.
Key highlights of the report include:
"Continued signs of strength and progress in the European economy and gathering momentum suggest that 2014 will be a transition year, said Catherine McGavock, Regional Director for Europe for GBTA. "At long last the 2012-2013 recession appears to be over and the European economy on a more solid footing. While challenges remain, this is very positive news and bodes well for business travel growth as business confidence rises across the region."
"According to the report, stronger economic conditions are forecast to lead to an across-the-board increase in business travel throughout Western Europe," said Tad Fordyce, SVP, Global Commercial Solutions, Visa. "As 2014 progresses there are still economic hurdles to clear, but the overall forecast is trending in a positive direction."
Outlook Positive, But Challenges Remain
Of course risks to this fragile recovery and a more promising forecast are ever-present. The sovereign debt crisis is far from over, oil prices are always a danger given the potential for Middle East supply interruptions and emerging markets currency risk has also recently show the potential for financial shocks. A new worry is the concern over current rates of disinflation giving way to deflation which can lead households and businesses to delay purchases in anticipation of lower future prices causing aggregate spending to drop.
Country-Level Business Travel Outlooks
Germany
United Kingdom
France
Spain
Italy
About the GBTA Foundation:
The GBTA Foundation is the education and research foundation of the Global Business Travel Association (GBTA), the world's premier business travel and corporate meetings organisation. Collectively, GBTA's 6,000-plus members manage over $340 billion of global business travel and meetings expenditures annually. GBTA provides its network of 21,000 business and government travel and meetings managers, as well as travel service providers, with networking events, news, education & professional development, research, and advocacy. The foundation was established in 1997 to support GBTA's members and the industry as a whole. As the leading education and research foundation in the business travel industry, the GBTA Foundation seeks to fund initiatives to advance the business travel profession. The GBTA Foundation is a 501(c)(3) nonprofit organization. For more information, see gbta.org and gbta.org/foundation.