Business travel spend in Europe grows 0.9% in 2014

After a three-year slowdown, business travel spend in Europe is showing accelerated growth, according to the American Express Global Business Travel 2014 EVP Barometer.

Business travel spend in Europe grows 0.9% in 2014
Business travel spend in Europe grows 0.9% in 2014

According to the Barometer’s respondents, the growth is partly due to improved economic conditions in report’s ten reference countries in Europe, which includes the UK, France, Germany, Spain, Italy, Belgium, the Netherlands, Denmark, Sweden and Norway.

The Barometer also forecasts that the upturn will continue in 2015, and predicts an increase in total business travel spend of 0.7% this year.

Elyes Mrad, MD of Europe, the Middle East and Africa at American Express Global Business Travel, said: "Whether seeking to retain current customers, win new prospects or develop new markets, companies are aware of how important business travel is to support their sales growth.

"According to our research, they now devote 51% of their business travel budgets to business development activities, as opposed to 46% in 2013. Yet, in a persistently difficult economic context, controlling direct costs remains a priority. The real challenge is to gain a comprehensive view of these expenditures. Expectations are increasingly high in this area, particularly with the adoption of end-to-end solutions."

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