Last week, the GBTA Foundation released our latest quarterly U.S. business travel outlook projecting just over 3 percent growth in business travel spending for 2016 and 2017. Here are three key questions we’ve been hearing about the forecast. Will airfares drop in 2016? In 2015, price growth was the lowest we’ve witnessed since the Great…
GBTA’s recently released quarterly U.S. business travel forecast, GBTA BTI™ Outlook – United States, showed the growth rate for business travel spending in the country is slowing. The study also looked into both group and individual business travel. Individual business travel soared in 2014, growing 6.7 percent, but total spending fell 0.3 percent over the…
The GBTA Foundation released its quarterly U.S. business travel forecast last week. It included a projection that average airfares have dropped to $379 this year, down from $392. This is a long anticipated drop for consumers due to the collapse in global oil prices. I talked about this phenomenon with Fortune’s Chris Elliott who wrote…
Today, GBTA released our third quarter outlook for U.S. business travel, and it clearly shows the effects caused by an uncertain global economic environment. U.S. business travel spending will increase by 3.1 percent in 2015 and 3.7 percent in 2016. While this is still positive growth, it is down from our July projections of increased…
When the GBTA Foundation released its annual global report and business travel forecast this July,sponsored by Visa, Inc., it highlighted five countries in a segment of newly emerging markets often overlooked because they aren’t as large as the traditional powers or the more commonly discussed BRIC markets. The five countries called out: Indonesia, Malaysia, Mexico,…
Today at GBTA Convention, the GBTA Foundation unveiled its Annual Global Report & Forecast finding global business travel spending will hit a record $1.25 trillion USD in 2015, 6.5 percent growth over 2014. Growth will remain strong through 2019, with business travel projected to grow 6.9 percent in 2016, 6.0 percent in 2017, 6.4 percent…
The Spanish economy was one of the most challenged in Western Europe from 2011 through 2013 as it battled high levels of public debt, soaring unemployment and stagnating economic growth. The latest GBTA business travel forecast for Western Europe shows a surprising turnaround for the country however. Spain has exhibited a remarkable economic turnaround driven…
Business travel in Western Europe is finally standing on solid ground. Companies however are still showing a penchant toward saving for the future in case the economy backslides – that pessimism is slowly starting to abate, but optimism has not fully set in. Still, the stronger economy, lower energy prices and smart fiscal policies are…
On Thursday, the Senate Commerce, Science and Transportation’s Subcommittee on Aviation Operations, Safety and Security held a hearing to examine the funding of airport capital needs. The Hill’s Keith Lang reported on the potential topics including PFCs and talked with GBTA’s Mike McCormick about why GBTA opposes a hike in the PFC cap. The Washington…
Today, the GBTA Foundation released its semi-annual business travel forecast for India. The report, sponsored by Visa Inc., showed the continuation of dramatic business travel growth for the region. For the second straight time, we upgraded our forecast projecting India’s total business travel spend to grow 9.8 percent in 2015 and 10.9 percent in 2016…
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