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Business Travel Spending to Rise 4.9 Percent in 2015

Business Travel Spending to Rise 4.9 Percent in 2015

U.S. business travel spending will increase by 4.9 percent in 2015 to $302.7 billion, yet ongoing concerns about the U.S. economy will rein-in what could be even sharper growth, according to new research from the GBTA Foundation and Visa.

The 2016 outlook anticipates a surge in economic activity and confidence, with travel spending projected to increase by 5.4 percent to $318.9 billion.

Total trip volume follows a similar trend for 2015 and 2016. In 2015, U.S. travel volume is expected to increase by 1 percent to 488.1 million person-trips—an average of 1.3 million trips for every day of the year. Growth will substantially increase in 2016 with business travel volume accelerating by 3 percent to 502.8 million person-trips. That amounts to an average of more than 38,000 additional business trips every day.

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