Skift Take
While spending on business travel is forecasted to grow significantly in the next five years in both developed and emerging markets, there has also never been so much uncertainty collectively around global political, social, and economic disruptions.
The Future of Meetings & Events
We're presently living in an era of duality. Globally, economic growth forecasts are trending upward, while at the same time, there is widespread uncertainty due to disruptive world events and inequality.
That was the message coming out of the annual Global Business Travel Association (GBTA) conference last week in Boston, based on a new report published by the organization.
Spending on business travel increased 3.5 percent in 2016. The report calls for 5.2 percent growth this year, accelerating to 6.1 percent in 2018 and about seven percent the following two years. Those expectations are “pending many global uncertainties,” however, including the threat of terror, geopolitical tensions, immigration crackdowns, and trade policy changes.
“The renewed optimism for business travel activity is being driven by an uptick in global trade, expected improvements in the manufacturing sector,
