The National Business Travel Association (NBTA) and Egencia, the corporate travel arm of Expedia Inc., released a sample of findings from a 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.
The U.S. Department of Commerce projects international travel to the U.S. to regain its footing by 2010, following its first forecasted year of decline in 2009 since 2003.
The Federal Aviation Administration (FAA) annual aviation forecast predicts a return to growth for air travel in the long term, underscoring the need for vital aviation infrastructure and environmental improvements contained in the FAA’s comprehensive Next Generation Air Transportation System plan.
Up to 15 more British travel companies may collapse in the next three months. Manny Fontenla-Novoa, the chief executive of Thomas Cook, recently said that about 15 travel agents could go bust over the winter and that the next three months would be crucial.
A year ago, most experts were predicting that 2008 would be a strong year for the airline industry, with high hopes for growth and billions in profits. Those expectations were shattered by a record-breaking spike in oil prices, followed by a plunge in demand for travel as the economy took a nose dive. The year’s events were a stark reminder that predictions can quickly go awry in the tumultuous airline business.
The Orbitz for Business/Business Traveler Magazine Quarterly Trend Report is reporting that cost controls may have been a more significant trend than policies focused on cutting back corporate travel. Nearly three-fourths –71 percent- of business travelers say they’ve traveled more or about the same in 2008 as they did a year ago.