The small growth that the GBTA has seen is due to the higher prices business travelers are paying for hotel rooms and airplane tickets rather than increased activity.
Europe’s economic woes are putting a chill on U.S. business travel, more so than the higher airfares and hotel rates that many corporate trekkers are paying this year.
That’s the latest assessment out Tuesday from the Global Business Travel Association (GBTA), which predicts spending on corporate trips will only rise 2.2% this year in comparison with 2011.
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Tags: debt crisis