Global Business Travel Projected to Exceed $986 Billion by 2013
August 18, 2009
Global Business Travel Projected to Exceed $986 Billion by 2013
The National Business Travel Association and the corporate travel arm of Expedia, known as Egencia, have released findings from study quantifying global business travel. The study, which looked at 72 countries, projects that global business travel will exceed $986 billion by 2013.
"This study shows that business travel spend has increased by more than 35 percent since 1998, making it an impactful industry in the global economy," said Kenneth McGill, NBTA Research Consultant and lead analyst on the IHS Global Insight report. "Most of this growth has been due to an expanding global economy and the rising dispersion of business travel activity around the world."
The study predicts that growth of business travel in China and Japan will exceed U.S. growth over the next five years. In addition, developing nations, like India, Vietnam, Iran and Indonesia will experience significant growth. Currently, the United States represents the largest piece of global business travel spend with $261 billion or 28 percent of the world total, followed by China at 10 percent and Japan at 8 percent.
The full study will include a complete profile of U.S. business travelers, as well as a comprehensive forecast of U.S. and global business travel activity. To read more findings from the study, click here.
