Report: Business Travel Bouncing Back in Europe

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After several difficult years, Europe's economy is finally starting to rebound. And business travel is rebounding with it, according to the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), which today published its latest business travel forecast predicting business travel growth for Western Europe in 2015.

Specifically, GBTA expects business travel spending across Western Europe to hit $186.4 billion in 2014, an increase of 4.9 percent over 2013. That growth will continue into 2015, it predicts, with spending increasing another 6.6 percent to $198.7 billion.

Growth will be strongest next year in Germany, at 10.8 percent. 

"After experiencing many quarters of decline, Europe appears to be stabilizing and starting to bounce back," Catherine McGavock, GBTA's regional director for Europe, said in a statement. "We still face many hurdles, but it appears the tides are gradually changing for economies all over Europe. This will contribute to a strong 2014 and 2015 for business travel throughout the region."

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