The Global Business Travel Association released its latest quarterly report this week, which indicates that business travel will continue to climb in 2012, but at a slower pace than has been the case thus far in 2011.
The report, Business Travel Quarterly Outlook–United States, shows that business travel spend has been on the rebound this year and is expected to grow 6.9 percent over 2010 figures, reaching an estimated $250.2 billion by the end of December. The findings also show, however, that ongoing uncertain economic conditions in the United States will likely lead to a slow-down in business travel spend in 2012, with just 4.3 percent growth forecast for the upcoming year.
“Uncertain economic conditions around the world continue to impact companies, which in turn impacts business travel plans and can lead to hesitation in spending,” said Michael W. McCor