Global Business Travel Spending to expand 6.9% in 2014 to $1.18 Trillion USD

July 28th, 2014 |

Global business travel spending is expected to reach a record $1.18 trillion in 2014, according to a study released by the Global Business Travel Association.  The forecast, conducted by Rockport Analytics, projects 6.9% annual growth this year, and global spending is expected to grow by a higher rate in 2015.  Growth was 4.5% in 2013 and 3.2% in 2012.  China’s business-travel market has grown quickly during the past decade, and expected to surpass the U.S. as the largest market by 2016, the report said, even though business-travel spending growth is expected to slow in China over the next five years.  The Asia Pacific region, which includes China, comprises 38% of global business travel, and totaled $392B in 2013.  Learn more.