European business travel spending on the rise
European business travel spending is expected to rise, according to figures released by the Global Business Travel Association.
The GBTA BTI Outlook – Western Europe report, conducted by the GBTA Foundation and sponsored by Visa, Inc, says that spending in Germany, the UK, France, Spain and Italy – which together represent nearly 70 percent of Western Europe’s business travel – will grow at over six percent in 2015 and 2016.
Catherine McGavock, GBTA's Regional Vice President – EMEA, said: "The study shows that the European economy is gathering steam and beginning to put its economic woes in the rear-view mirror. Business travel is faring even stronger than the moderate economic breakthrough, with double digit spending growth in Germany as well as over 7 percent growth in both the U.K. and Spain this year. Still uncertainties in the global economy present risks to this business travel breakout, leading to a cautiously optimistic outlook for many companies."