Increased Costs Will Put Pressure on Business Travel Growth
Photo Credit: A business traveler checks a departure board in Frankfurt Airport. Skift / Dan Peltier
Skift Take
A variety of self-defeating trade wars and increased travel pricing will likely prevent global business travel from surging in growth like it has over the last few years.
Business travel has been on an unprecedented growth trajectory in recent years, driven by emerging markets and modest growth in North America and Europe.
In the coming years, however, a variety of headwinds will move to stifle growth, according to a new forecast from Carlson Wagonlit Travel. A lack of hotel supply will increase costs for travelers in Asia, while uncertainty surrounding Brexit will likely reduce both consumer and traveler spending in Europe.
The company expects global growth in gross national product to rise to 3.4 percent in 2019,
