Business travel will continue to rise this year after returning to growth in 2010, according to Alexandria-based National Business Travel Association.
The trade group's NBTA Foundation says travel spending by U.S. businesses will rise 5 percent in 2011, following a 2.3 percent increase in travel spending last year. That is in sharp contrast to 2009, when travel spending by U.S. businesses plunged by more than 14 percent.
"Based on the way 2010 began, the year wrapped up better than expected thanks to a number of factors including higher than expected GDP, stronger exports and very strong corporate profits," says NBTA executive director Michael McCormick. "These trends are translating into greater business travel spending as companies invest in travel to drive revenues and compete aggressively in a recovering economic environment."
U.S. business travel spending in the first quarter of 2011 is forecast to be $58.8 billion, up 6.7 percent from the first quarter in 2010.
Read more:
Business travel rebounds | Washington Business Journal 
