8/2/2013

The Global Business Travel Association has revised its projected corporate travel spending in 2013 to $273.3 billion from an earlier forecast of $268.5 billion. Group business and domestic travel in particular appear to be driving the increase. "We're seeing this year a much stronger improvement in group travel [for] meetings and conferences. This year, we're finally seeing group travel increase at a faster rate than transient travel," said Joe Bates, vice president of research at GBTA. The group forecasts $117.1 billion in group spending this year, a 5.3% increase.

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