Business Travel to Increase in 2013, Says <i>Frequent Business Traveler</i> and Global Business Travel Association
According to reports from the Frequent Business Traveler and the Global Business Travel Association, business travel spending will reach $266.7 billion in 2013.
The Frequent Business Traveler and the Global Business Travel Association (GBTA) released reports on Jan. 8 that predict business travel to increase in 2013.
According to the Frequent Business Traveler survey, 33% of business travelers said they will travel more in 2013 than in 2012, and 50% said they would be traveling more compared to two years ago.
Frequent Business Traveler, along with online travel community FlyerTalk, surveyed 1,349 travelers during the last quarter of 2012.
The GBTA BTI Outlook for the United States reported that U.S. business travel spending is expected to rise 4.6% in 2013 to $266.7 billion due to increasing international outbound travel spending and group travel spending. Additionally, modest price inflation should influence companies to spend more real dollars on business trips.
According to the report, spending growth in 2013 should begin at 2% in the first quarter and 2.9% in the second quarter. During quarter three, spending growth should reach rates of 6.4% and then 7.2% in quarter four.
The GBTA estimates that the U.S. business travel spending at the end of 2012 was $254.9 billion.
The GBTA attributed the slowing of business travel spending at the end of 2012 to the “fiscal cliff” since companies postponed critical investment decisions until after Congress reached an agreement.
“While companies will approach the first half of the year with some caution, pent-up demand to get back on the road should hopefully fuel accelerating growth in business travel spending through the end of 2013,” said Michael W. McCormick, GBTA executive director and COO.
Related news: GBTA Expects China to Surpass U.S. in Business Travel Spend by 2014
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