Eurozone crisis may weaken business travel, GBTA says

02/15/2012 | Travel Weekly · TravelPulse

Business travel may suffer a 9% drop in trips and a 16% drop in spending if the European debt crisis reaches severe levels, the Global Business Travel Association predicts. In its report, the association outlined three potential scenarios, with the worst case involving a possible breakup of the European Union and a dip of $88 billion in spending in U.S. business travel. "International outbound travel, which has played an outsized part in the revival of business travel since the recession, would be crushed by further deterioration in the eurozone," the association said.

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