The Global Business Travel Association(GBTA) has issued its quarterly report that shows overall business travel spending is expected to advance 3.1% to $295.7 bn in 2015, with overall US business travel volume expected to increase over the next two years as the US economy moves into higher gear. Meanwhile, lower oil prices are anticipated to mean modest pricing growth in transportation costs.
Other findings include:
- Total person-trip volume is expected to increase by 1.7% to 492.1m trips in 2015.
- Travel prices should only rise 1.4% in 2015.
- Volatility over the next seven quarters in international business travel is expected due to the uncertain global economy.
- Courtesy: TravelAgent Central