UK business travel to increase in 2014

Business travel spending amongst the top five markets in Europe is expected to reach £112bn in 2014, with UK spending leading the way, according to the latest GBTA report.

UK business travel to increase in 2014
UK business travel to increase in 2014

The latest Global Business Travel Association (GBTA) report predicts UK business travel spending in 2014 to increase by 4.4% to more than £25bn.

International outbound business travel is predicted to grow by 3.2% in 2014 and a further 1.7% in 2015. Domestic spending in 2014 is also expected to grow by 5% with a further 6.9% growth in 2015.

The report also showed that for the first time since 2010 five of the major business travel markets – the UK, France, Germany, Italy and Spain – will increase their business travel spending.

Tad Fordyce, SVP, global commercial solutions, Visa, said: "According to the report, stronger economic conditions are forecast to lead to an across-the-board increase in business travel throughout western Europe.

"As 2014 progresses there are still economic hurdles to clear, but the overall forecast is trending in a positive direction."

The GBTA report is a semi-annual analysis of the five biggest business travel markets in Europe.

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