by Michael J. Shapiro | April 30, 2014
Despite two quarters of slower economic growth in Brazil, the Global Business Travel Association projects that business travel spending there will grow by 12.5 percent in 2014, to US$37 billion, followed by an additional 5.9 percent increase in 2015. The Brazilian business travel market is now the world's eight largest; according to GBTA's new BTI Outlook-Brazil report, the nation likely will surpass South Korea and France within the next 10 years. While annual business travel spending in the country has tripled since 2000, both domestic travel spending and international outbound growth have slowed in the past few years; GBTA expects those numbers to strengthen a bit this year. "This forecast tells the story of continuing positive growth in Brazil despite recent volatility," noted GBTA Brazil's President Wellington Costa. "The encouraging turnaround for international outbound business travel spending paired with expected domestic growth as well shows suppliers and travel managers that Brazil is a key market to be in for businesses expanding globally." The report, which was sponsored by Visa, is available for free to GBTA members at Nonmembers can purchase the report for $499 by emailing