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Global Business Travel Spending to Reach $1.3 Trillion

According to a new report by the Global Business Travel Association (GBTA) Foundation, global business travel spending is predicted to reach $1.3 trillion in 2016. In 2015, it topped $1.2 trillion, a growth of 5% from 2014.

China Leads Global Business Travel Spending

In the next five years, China business travel will increase by 61% (from $261 billion in 2014 to $420 billion in 2019). Asia Pacific owns the largest share of the business travel spend market with 39%, followed by North America with 27%.

U.S. Business Travel Spending to Hit $292B

A Global Business Travel Association (GBTA) forecast has found that U.S.-originated business travel grew nearly 3% year-over-year. Overall, U.S.-generated business travel is expected to increase 6.8% to $292.3 billion in 2014.

Brazil Business Travel to Hit $37B in 2014

Despite two quarters of weaker economic growth in 2013, business travel spending in Brazil is expected to expand 12.5% to $37 billion in 2014 and another 5.9% in 2015, according to the Global Business Travelers Association (GBTA) Foundation.

China to Surpass U.S. as Top Business Travel Market in 2015

With business travel spending in China expected to expand 17.8% to $309 billion throughout 2015, according to the GBTA, China is poised to overtake the U.S. and become the No. 1 business travel market in the world as early as next year.