The Global Business Travel Association (GBTA), the voice of the global business travel industry, announces the results of its latest GBTA BTI™ Outlook - Western Europe report, a semi-annual analysis of the five most critical business travel markets in Europe: Germany, the UK, France, Italy and Spain.
These five markets together form the lion's share of business travel in the region, nearly 70%, and act as a good barometer of the health of the entire European business travel market. The report, sponsored by Visa Inc., includes the GBTA BTI™, an index of business travel spending that distills market performance over a period of time. Key highlights of the report include:
Business travel spending among the five markets is expected to hit $183 billion USD, (€144.7 billion) 3.3% growth over 2013. This projected gain would be the largest in Western Europe since the Great Recession.Germany remains the largest business travel market in Europe reaching $50.5 billion USD in 2012. This is expected to increase 5% in 2013 to $53 billion USD.The UK has the second highest level of spending on business travel in Western Europe - $40.6 billion USD in 2012 - expected to advance 1.6% in 2013 to $41.3 billion USD.Spain, Italy and France will all see their business travel markets contract in 2013 by -6.7%, -3.9% and -2.3% respectively.In 2013, domestic business travel will fare better than international outbound in all five markets except for the UK.
The GBTA BTI™ Outlook - Western Europe - 2013H2 projects aggregate business travel trends over the next eight quarters. The report tracks business travel spending in total and by domestic and outbound segments. It relates unfolding economic events at home and abroad to their resulting impacts on Europe's business travel markets. GBTA BTI™ Outlook - Western Europe 2013H2 is our fourth report in the semi-annual series.
It can be purchased for a price of $499 USD via the GBTA website here. More info here.