Business travel from the U.S. grew nearly 3 percent year-over-year, with company spending for business travelers increasing 7.6 percent to $71.2 billion during the first quarter of 2014. This indicates rising management confidence in the economic recovery, which tends to accompany increased travel budgets and fewer travel restrictions. Overall, U.S.-generated business travel spending is expected to increase 6.8 percent to $292.3 billion in 2014.
The Global Business Travel Association reaffirmed its positive forecast of the U.S. business travel industry with the release of the GBTA BTI Outlook – United States 2014 Q2. The report highlights the important relationship of business travel to overall U.S. economic growth.
“Business travel spending in the U.S. supports 7.1 million jobs,” Michael W. McCormick, GBTA executive director and COO, said in a statement. “We continue to see a correlation: growth in business travel is intrinsically linked to jobs development and ultimately growth in the U.S. economy.”