Business travel is back and growing fast

Filed under: Business, North America, United States

Business travelers shelled out more cash in the fourth quarter of 2010 than they did in any other since the recession kicked in. The latest report from the Global Business Travel Association shows an increased spend of $4.2 billion over the previous quarter. For all of 2010, business travel spending ticked up 3.2 percent - far ahead of the 2.3 percent originally predicted.

Now, hopes for 2011 are even higher. Business travel spending is expected to grow 6.9 percent this year, relative to an original forecast of 5 percent.

According to Michael W. McCormick, GBTA Executive Director and COO, "These are very heartening signs. Business travel spending is coming back at robust levels, indicating the shape of things to come - namely more travelers on the road, an improving economy, and a positive environment for continued job growth." He added, "Thanks to increasing corporate confidence, companies are investing more in business travel which will further stimulate business activity and economic growth."

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Business travel is back and growing fast originally appeared on Gadling on Wed, 13 Apr 2011 08:00:00 EST. Please see our terms for use of feeds.

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