U.S. business travel will continue to grow at stable and steady rates over the next two years, despite significant headwinds from Asia Pacific, Latin America, and the Middle East, the Global Travel Business Association (GBTA) Foundation reports. Overall, GBTA Foundation’s latest business travel forecast found that the U.S. economy has returned to pre-Great Recession footing, but without the same speculative dangers that existed in 2007 and 2008. This bodes well for future U.S. business travel spending, which the GBTA Foundation predicts will grow at 3.2 percent in 2016, reaching $299.9 billion. According to the forecast, price growth is expected across key travel goods and services in 2016 with the exception of airfares. Lodging prices are forecast to increase 3.4 percent. To read the full report, click here.
