Attention meeting managers! It looks like it’s time to update meetings travel budgets and strategies again.
The Global Business Travel Association has just upped its prediction for where business and meetings travel spend will go in 2013. Now, the GBTA sees a 5.1% increase in spending this year versus last year. That’s higher than the 4.6% 2013 growth it forecast back in January.
For meetings travel, the GBTA sees a 6% rise in spending in 2013, up from a late 2012 forecast of 5.2%.
Why the increase? “Business confidence is up, and the need to compete in the global economy is driving companies to invest in business travel," noted GBTA executive director and COO Michael W. McCormick.
Are you increasing spend in meetings travel? Let us know!
We’re staying on top of the latest meeting trends, too. For a look at how the meeting planning landscape has changed since 2008 – including smaller and shorter meetings, as well as less lead time for planning events – read “Event Trends: 2008-2012, ACTIVE Network’s study of eRFP patterns in five key meetings destinations across the U.S.
Article: Business Travel News
Article: Meetings & Conventions magazine