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European Business Travellers to Make a Record in 2013 and 2014

The Global Business Travel Association (GBTA) has issued its report concerning the state of business travel segment in Europe and its prospects for 2013 and 2014. In spite of negative results in recent years, GBTA is very optimistic about the development of business travel in Western Europe.

According to the report, already in 2013 business travel spending will grow sufficiently across the continent, with developed countries taking the lead. The growth of the business travel spending will be mostly fuelled by domestic travellers and not visitors from other regions. Germany will benefit the most and is expected to post the highest growth of travel spending of 5% already in 2013. It will be followed by the UK that will post the growth of 1.9%. Such EU countries with economic challenges as Spain and Italy will not be able to reach positive growth of business travel spending. The declines in this area for Spain and Italy in 2013 will be -6.2% and -2.9% respectively. France is also likely to lose its revenues in this field as the amount of spending is to fall by 1.4%.

The next year, however, will be a lot more profitable according to the GBTA report. The company forecasts stable development of business in Western Europe that will, certainly, affect business travel. All key markets of the EU, including Germany, Italy, France, Spain and the UK, will return to growth. 2014 will also have changes in the main source of profit in the business travel segment. If in 2013 European hotels will mostly earn on domestic travellers, in 2014 increasing trading volumes will attract many international visitors.

10.04.2013

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