The Global Business Travel Association now expects U.S. business travel spending to rise 7.1 percent in 2014 to $293.3 billion, a substantial upgrade from the 6.6 percent growth to $289.8 billion GBTA predicted last quarter. GBTA attributed the forecast upgrade to strong investment in international outbound travel spending, which is now expected to increase 12.9 percent to $37.2 billion—up from 12.5 percent growth forecast in the fourth quarter. Total person-trip volume is expected to increase 2 percent to 464.7 million trips, according to GBTA’s outlook. GBTA’s outlook for group travel was also revised to increase 7 percent in 2014 to $126 billion—up from the 6.5 percent growth GBTA predicted last quarter. Read more over at Business Travel News.
