Western Europe biz travel tipped to increase to US$211.2 billion this year

BTN News
Thursday, 09 June 2016

Western Europe’s business travel spending is projected to increase to US$211.2 billion in 2016 and top out at US$225.6 billion in 2017, 6.3 and 6.8 per cent growth respectively, according to the latest GBTA BTI™ Outlook – Western Europe report by Global Business Travel Association (GBTA).


The report looks at the five largest business travel markets in Europe: Germany, the United Kingdom, France, Italy and Spain that together make up 70 per cent of Western Europe’s business travel market.


Taken together, the business travel trends of these five countries demonstrate that Western Europe’s business travel confidence and demand is growing due to a number of positive factors that are projected to continue into next year.


 “What’s most impressive about these results is that Europe has faced a seemingly endless array of challenges recently,” said Catherine McGavock, GBTA’s regional vice president – EMEA. “From the Greek debt crisis to the influx of Syrian refugees, terrorist attacks in several European capitals, and the pending UK referendum on possibly exiting the bloc, the business travel market has not only endured, but thrived – growing at a greater rate over the last year than many of the other large business travel markets across the globe.”


Europe’s positive business travel growth will continue at a respectable rate, and that growth is not confined to the continent’s larger, northern economies. Europe’s southern tier is also faring better than expected with an improved outlook as consumer confidence returns and a favorable business climate promulgated by low interest rates and oil prices and rising demand and investment continue. Italy and Spain, for example, will see growth rates of 7.3 and 11.9 per cent, respectively from 2015 to 2017.

Country-Level Business Travel Outlook

Germany – a US$63.5 billion market – is leading the way, with business travel growth of 7.6 per cent projected in 2016 and 9.3 per cent growth in 2017.
Spending on domestic business travel is increasing by 7.1 per cent this year and projected to increase by 9.3 per cent next year. International outbound business travel will grow 9.8 per cent in 2016 and 9.5 per cent in 2017. Domestic business travel accounts for 80 per cent of all business travel in Germany.
 
The United Kingdom – a US$47.1 billion market – is expected to grow at 7.9 per cent in 2016 and 6.9 per cent in 2017.
Spending on domestic business travel will grow at 6.9 per cent in 2016 and 5.8 per cent in 2017, while international outbound travel will grow at 9.8 per cent in 2016 and 8.9 per cent in 2017.
Domestic business travel accounts for 65 per cent of all business travel in the United Kingdom.
 
France – a US$37.1 billion market – is expected grow at 3.9 per cent in 2016 and 5.8 per cent in 2017. Spending on domestic business travel will grow at 3.0 per cent this year and 5.7 per cent next year, while international outbound travel will grow at 5.6 per cent in 2016 and 6.1 per cent in 2017. Domestic business travel accounts for 65 per cent of all business travel in France.
 
Spain – a US$19.4 billion market – is expected to grow at 6.5 per cent in 2016 and 5.1 per cent in 2017. Spending on domestic business travel will grow at 7.0 per cent in 2016 and 4.3 per  cent in 2017, while international outbound travel will grow at 4.7 per cent in 2016 and 7.9 per cent in 2017. Domestic business travel accounts for almost 80 per cent of all business travel in Spain.
 
Italy – a US$31.6 billion market – is expected to grow at 3.6 per cent in 2016 and 3.5 per cent in 2017. Spending on domestic business travel will grow at 3.0 per cent this year and 3.4 per cent next year. International outbound travel will grow at 8.4 per cent in 2016 and 4.4 per cent in 2017.
Domestic business travel accounts for almost 90 per cent of all business travel in Italy.
 
The GBTA BTI Outlook – Western Europe 2016 H1 report is available to GBTA members by https://hub.gbta.org/home  and non-members may purchase the report through the GBTA Foundation by emailing pyachnes@gbtafoundation.org

Western Europe biz travel tipped to increase to US$211.2 billion this year

BTN News
Thursday, 09 June 2016

Western Europe’s business travel spending is projected to increase to US$211.2 billion in 2016 and top out at US$225.6 billion in 2017, 6.3 and 6.8 per cent growth respectively, according to the latest GBTA BTI™ Outlook – Western Europe report by Global Business Travel Association (GBTA).


The report looks at the five largest business travel markets in Europe: Germany, the United Kingdom, France, Italy and Spain that together make up 70 per cent of Western Europe’s business travel market.


Taken together, the business travel trends of these five countries demonstrate that Western Europe’s business travel confidence and demand is growing due to a number of positive factors that are projected to continue into next year.


 “What’s most impressive about these results is that Europe has faced a seemingly endless array of challenges recently,” said Catherine McGavock, GBTA’s regional vice president – EMEA. “From the Greek debt crisis to the influx of Syrian refugees, terrorist attacks in several European capitals, and the pending UK referendum on possibly exiting the bloc, the business travel market has not only endured, but thrived – growing at a greater rate over the last year than many of the other large business travel markets across the globe.”


Europe’s positive business travel growth will continue at a respectable rate, and that growth is not confined to the continent’s larger, northern economies. Europe’s southern tier is also faring better than expected with an improved outlook as consumer confidence returns and a favorable business climate promulgated by low interest rates and oil prices and rising demand and investment continue. Italy and Spain, for example, will see growth rates of 7.3 and 11.9 per cent, respectively from 2015 to 2017.

Country-Level Business Travel Outlook

Germany – a US$63.5 billion market – is leading the way, with business travel growth of 7.6 per cent projected in 2016 and 9.3 per cent growth in 2017.
Spending on domestic business travel is increasing by 7.1 per cent this year and projected to increase by 9.3 per cent next year. International outbound business travel will grow 9.8 per cent in 2016 and 9.5 per cent in 2017. Domestic business travel accounts for 80 per cent of all business travel in Germany.
 
The United Kingdom – a US$47.1 billion market – is expected to grow at 7.9 per cent in 2016 and 6.9 per cent in 2017.
Spending on domestic business travel will grow at 6.9 per cent in 2016 and 5.8 per cent in 2017, while international outbound travel will grow at 9.8 per cent in 2016 and 8.9 per cent in 2017.
Domestic business travel accounts for 65 per cent of all business travel in the United Kingdom.
 
France – a US$37.1 billion market – is expected grow at 3.9 per cent in 2016 and 5.8 per cent in 2017. Spending on domestic business travel will grow at 3.0 per cent this year and 5.7 per cent next year, while international outbound travel will grow at 5.6 per cent in 2016 and 6.1 per cent in 2017. Domestic business travel accounts for 65 per cent of all business travel in France.
 
Spain – a US$19.4 billion market – is expected to grow at 6.5 per cent in 2016 and 5.1 per cent in 2017. Spending on domestic business travel will grow at 7.0 per cent in 2016 and 4.3 per  cent in 2017, while international outbound travel will grow at 4.7 per cent in 2016 and 7.9 per cent in 2017. Domestic business travel accounts for almost 80 per cent of all business travel in Spain.
 
Italy – a US$31.6 billion market – is expected to grow at 3.6 per cent in 2016 and 3.5 per cent in 2017. Spending on domestic business travel will grow at 3.0 per cent this year and 3.4 per cent next year. International outbound travel will grow at 8.4 per cent in 2016 and 4.4 per cent in 2017.
Domestic business travel accounts for almost 90 per cent of all business travel in Italy.
 
The GBTA BTI Outlook – Western Europe 2016 H1 report is available to GBTA members by https://hub.gbta.org/home  and non-members may purchase the report through the GBTA Foundation by emailing pyachnes@gbtafoundation.org