UK tops Western Europe business spend
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Business travel in the UK is the highest in Western Europe with around USD40.2 billion set to be spent this year.
Spend on business travel from UK companies are set to remain flat compared to last year, with international travel down 3.1% while domestic will see a 1.6% boost. The results from the Global Business Travel Association (GBTA) predict that spend will grow 2.8% next year with international to receive a bigger increase than domestic travel.
Generally in Europe business spend is set to fall 2.2% this year and rise 1.4% in 2013.
“We are confident that the second analysis of the region, in our semi-annual report series, continues to provide strong, accurate insights into both short- and long-term trends in domestic and international outbound business travel activity,” said Paul Tilstone, managing director of GBTA Europe on the results.
“However, with lingering debt challenges and continued austerity measures, the European economy will likely continue to be challenged for years to come. The GBTA’s fall report therefore remains cautious, with overall business travel spend forecast to increase by 1.4% in Western Europe in 2013,” he added.
Earlier this week the GTMC revealed its members had seen an expected drop in spend during August but was positive of growth in September.
