GBTA Predicts Steady Rise in Business Travel Spending

 While business travel spending slowed at the end of last year, the latest predictions from the Global Business Travel Association say that pent-up demand will fuel steadily rising growth rates in spending through 2013. The GBTA BTI Outlook‚ÄìUnited States says rates will rise 2 percent in the first quarter of this year and 2.9 percent in the second, jumping to 6.4 percent in the third quarter and 7.2 percent in the fourth. The numbers might present an early indication of greater corporate confidence. The report forecasts that overall in 2013, business travel spend will increase by 4.6 percent, to $266.7 billion. The final growth rate was not so prosperous in 2012, as business travel spending finished up just at 1.6 percent over 2011. GBTA predicts meetings will have an effect on the rise in rates this year, part of a rebound in international outbound travel and group travel.