These five markets together form the lion’s share of business travel in the region, nearly 70%, and act as a good barometer of the health of the entire European business travel market.
The report, sponsored by Visa Inc., includes the GBTA BTI™, an index of business travel spending that distills market performance over a period of time.
Key highlights of the report include:
- Business travel spending among the five markets is expected to hit $183 billion USD, (€144.7 billion) 3.3% growth over 2013. This projected gain would be the largest in Western Europe since the Great Recession.
- Germany remains the largest business travel market in Europe reaching $50.5 billion USD in 2012. This is expected to increase 5% in 2013 to $53 billion USD.
- The UK has the second highest level of spending on business travel in Western Europe - $40.6 billion USD in 2012 – expected to advance 1.6% in 2013 to $41.3 billion USD.
- Spain, Italy and France will all see their business travel markets contract in 2013 by -6.7%, -3.9% and -2.3% respectively.
- In 2013, domestic business travel will fare better than international outbound in all five markets except for the UK. For Full Article Click Here
The report, sponsored by Visa Inc., includes the GBTA BTI™, an index of business travel spending that distills market performance over a period of time.
Key highlights of the report include:
- Business travel spending among the five markets is expected to hit $183 billion USD, (€144.7 billion) 3.3% growth over 2013. This projected gain would be the largest in Western Europe since the Great Recession.
- Germany remains the largest business travel market in Europe reaching $50.5 billion USD in 2012. This is expected to increase 5% in 2013 to $53 billion USD.
- The UK has the second highest level of spending on business travel in Western Europe - $40.6 billion USD in 2012 – expected to advance 1.6% in 2013 to $41.3 billion USD.
- Spain, Italy and France will all see their business travel markets contract in 2013 by -6.7%, -3.9% and -2.3% respectively.
- In 2013, domestic business travel will fare better than international outbound in all five markets except for the UK. For Full Article Click Here