Amex GBT's Optimism Stops at Year-End as Economic Uncertainties Cloud 2023
Skift Take
The agency’s third-quarter results generally point in the right direction, as the public listing and acquisitions bed in. But the tech sector’s widespread layoffs, and that impact on the number of business trips that will be taken in the future, just can’t be ignored.
American Express Global Business Travel continues to benefit from the ongoing rebound of business trips. In particular the reopening of countries in Asia Pacific, barring China of course, bodes well for the world’s biggest travel agency.
In fact it’s the “highest recovered region,” primarily driven by the recovery in Australia and India, said CEO Paul Abbott during an earning’s call on Thursday.
But the recent spate of tech company layoffs must have been on his
