July 30, 2014

Boom times are back in corporate travel


For corporate travel managers gathering here at the annual convention of the Global Business Travel Association, two topics were high on the agenda: the surge in international business travel and the complex safety and security issues that arise as companies send more employees to diverse locations around the world.

This year’s convention, which has drawn about 6,700 travel managers, suppliers and others in the industry, falls during a tumultuous time for corporate travel. The trade group said that spending on business travel would rise about 7 percent this year, to roughly $1.18 trillion - $292.3 billion of that in the United States, up 3 percent. But as the industry representatives geared up over the weekend for five days of meetings, exhibitions and after-hours parties, there is a lot of sober discussion about travel safety and risk management.

Global business travel spending will reach a record $1.18 trillion this year, up nearly 7 percent from 2013, bolstered by growth in China, a U.S. trade group said on Monday.

The Global Business Travel Association said it expects China, where business travel spending grew to $225 billion in 2013 from $32 billion in 2000, will top the United States, which is currently the world's top individual market for business travel, by 2016.

Get the full stoy at The New York Times and Reuters

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