Business travel forecast upgrade

Renewed consumer confidence has improved business forecasts London - Arabstoday The Global Business Travel Association (GBTA) has upgraded its 2013 forecast, predicting improvements in business travel spending. As the world economy improves, the GBTA announced in a report that they expect a six percent increase in spending in Q4, which is now expected to reach $115bn. Returning consumer confidence and increasing international job developments have been credited for the increase. “As corporate and consumer spending confidence rises, the business travel forecast in the United States is starting to brighten,” said Tad Fordyce , head of global commercial solutions at Visa. Fordyce told Breaking Travel News that ; “While the report shows the trip volume among business travellers will remain steady, we remain optimistic that stronger spending will help 2013 business travel exceed its pre-recession high.”