Global spending on business travel to hit $1.18trn this year: report

July 31, 2014 9:25 am

US trade group, Global Business Travel Association, has said that global business travel spending will reach a record $1.18trn in 2014, up nearly 7% from 2013, bolstered by growth in China, Reuters has reported. China, where business travel spending grew to $225bn in 2013 from $32bn in 2000, is expected to top the US, which is currently the world’s top individual market for business travel, by 2016, the group said. Worldwide business travel spending will keep rising over the next four years, advancing 8.6% in 2015, 7.1% in 2016, 6.9% in 2017 and 6.4% in 2018, it said.