Global Business Travel Spending (Visa)

Global Business Travel Spending (Visa)

Did you know GBTA is the ONLY source for global business travel spending data in the world? The Business Travel Market Metrics study, sponsored by Visa, tracks business travel spending for 48 industry sectors in 75 countries over a period of 12 years. What's more, the report forecasts spending through 2014. This amounts to more than 117,000 data points!

How do we make sense of all that data? Here is a sample...

Global business travel will reach $896 billion USD in 2010, up 6.2% from the recessionary low of $844B USD in 2009. The previous peak was reached in 2008 at a revised level of $926B USD. We expect global business travel to surpass that peak in 2011 followed by growth of near 9% in 2012.

But not all countries are fairing the same. Some, like many Asian countries are growing very quickly, while Europe is stagnating. And while the U.S. will experience decent growth rates over the coming years, Asia is propelling the world's growth in business travel spending.

From a business travel perspective, the U.S. and the rest of the world remain on dramatically different growth trajectories. This situation will not change anytime soon as China and other Asian markets add business travel spending at about 4 times the rate of the U.S. In fact, we expect the Chinese market to surpass the U.S. in size and world share by as early as 2015. The U.S. share of global business travel is on a collision course with China. In part a reflection of the relative growth performance of the economies of the U.S. versus China, but also due to an ever-maturing mix of industries, many of which are more travel-intense.

If your company has a global presence, or wants to, you need this report.

Category:

Education

Tags:

• GBTA Foundation
• gobal travel spend
• visa
• travel metrics
• TM