Report Shows Business Travel is Booming

A new report released by the World Travel & Tourism Council (WTTC) and Travelport revealed that the business travel sector is expected to increase by 3.7 percent per year over the next decade.

“Every day we see business travel growing at a significant rate in many emerging markets with technology playing an in increasingly important role in easing the way for those on trips for their work,” Travelport CEO Gordon Wilson said in a statement. “As an industry, we need to continue to invest in the best technologies and infrastructure whilst governments need to be more business-friendly by removing burdensome visa requirements.”

The United States, China, the United Kingdom, Germany and Japan remain the largest Business Travel markets, according to the WTTC report.

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Business Travel Ready to Take-Off in 2017

A Delta Air Lines Airbus A330 aircraft takes off at the Charles de Gaulle airport in Roissy, France, August 9, 2016. REUTERS/Jacky NaegelenDespite a mixed first-quarter earnings report, Delta Air Lines is forecasting a bullish year for business travel in 2017. While the carrier’s total passenger revenue dropped 1 percent year-over-year to $7.7 billion in the first-quarter, the airline predicts business demand will remain strong and plans to focus on improving domestic business yields.

Spending associated with business travel fell 0.2 percent in 2016, according to the Global Business Travel Association. This year however, the organization—like Delta—has a positive outlook for corporate travel.

The latest forecast from the GBTA projects consumers will spend 4.4 percent more on business travel in 2017, or $296.1 billion total—up from $283.6 billion in 2016.

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