Tourism Industry News
U.S. currently leads world in business travel
The National Business Travel Association (NBTA) and Egencia, the corporate travel arm of Expedia Inc., released a sample of findings from a landmark study that quantifies global business travel spend and projects business travel growth through 2013.
Evaluating 72 countries, the study shows that business travel growth patterns vary dramatically across the globe with North America advancing at an average rate of just over 2 percent per year for the last decade, Western Europe growing 4.6 percent annually and Asia Pacific advancing by 7.2 percent annually over the same period. Emerging Europe and the Middle East/Africa region advanced annually by 12.4 percent and 7.7 percent, respectively, from 1998 to 2008.
The study finds that the North America, Western Europe and Asia Pacific regions each represent about 30 percent of the global business travel market (90 percent combined), estimated to total $929 billion in 2008.
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