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Business travel bounces back
Worldwide business travel spending is expected to grow 9.2% this year, according to a new survey.
This follows a rise of 8.4% in 2010 and a fall of 7.8% in 2009.
However, according to the Global Business Travel Spending Outlook 2011-2015 report, the rate of growth in Brazil, Russia, India and China is projected to be two to three times faster than in developed economies like the UK, the US, France and Germany.
"The recovery is happening, it's just not happening as quickly as most people would like," said Michael W. McCormick, Global Business Travel Association chief operating officer.
"Several countries are seeing the rebound happen at a much faster and more stable pace, and we're seeing that in the pace of business travel spending in the economies of China, India, Russia and Brazil. We're still bullish on business travel and all signs point towards continued growth."
Global business travel has advanced faster and farther than expected a year ago, according to the GBTA. There are several reasons:
• Strong cost controls put in place by companies have helped overcome the recession
• The recovery in global trade growth dramatically boosted international business trips
• Travel inflation, particularly in air fares, is contributing to the rebound in travel spend.
By TravelMole U.S.A
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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