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Business Travel Projected to Fly Higher This Year
ALEXANDRIA, Va. -- Business travel finished 2013 with stronger-than-expected growth and enters 2014 with a robust outlook, says Global Business Travel Association. The growth is propelled in part by strong investment in international outbound travel, which was a poorly performing sector over the previous two years.
U.S. spending on international outbound travel should jump a hefty 12.5% in 2014 to $36.7 billion, after just 1.8% growth in 2013 and an anemic 0.8% expansion in 2012, the association projects. This revival will be helped by steady improvements in the euro zone, the largest trading partner of the United States.
Overall, U.S. business travel spending is expected to advance 6.6% to $289.8 billion in 2014, while total person-trip volume is expected to increase 1.7% to 461 million trips for the year, according to the association's outlook for the fourth quarter.
Published by The Business Journal, Youngstown, Ohio.
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