Frankfurt, Germany (10 November 2015) – Each year companies around the globe spend, on average, approximately half a million dollars and nearly 3,000 hours correcting errors in expense reports, according to a new study that identified pain points in expense reporting. The average cost to to process an expense report for a single night hotel…
FRANKFURT, Germany (November 9, 2015) – Business travel spending in Germany, the U.K., France, Spain and Italy combined will grow at over 6 percent in 2015 and 2016, a leading indicator that the European economy is “gathering steam” and is poised for a moderate economic breakthrough. These findings are part of the semi-annual GBTA BTI™…
Frankfurt, Germany (9 November 2015) – The Global Business Travel Association (GBTA) – the voice of the global business travel industry – and German business travel buyer association VDR – today opened their joint event to a record number of delegates. Building on last year’s outstanding success in Berlin, GBTA Conference 2015 | Frankfurt in…
Alexandria, VA (November 3, 2015) – Today, Transportation Security Administration (TSA) Administrator Peter Neffenger testified before the U.S. House of Representatives Committee on Oversight and Government Reform providing his vision for the evolving agency in response to a an inspector general investigation of TSA showing security failures at dozens of the nation’s busiest airports. He…
Alexandria, VA (November 2, 2015) – In the first-ever assessment of China’s Meeting, Incentive, Convention, & Exhibition (MICE) market, the GBTA Foundation found a total of 138.5 million domestic trips were taken for MICE purposes and MICE business travelers spent a total of $110 billion USD (¥680 billion CNY) during those trips in 2014. Nearly…
Alexandria, VA (October 29, 2015) – Millennials are nearly twice as likely to want to travel more for business than Baby Boomers (45 percent to 26 percent, respectively), and a strong majority of Millennials (57 percent) believe technology can never replace face-to-face meetings to get business done. Additionally, Millennials are far more likely to rely…
Alexandria, VA (October 22, 2015) – On September 1, the Lufthansa Group implemented a €16 per booking surcharge on travel purchased anywhere other than its websites, service centers and airport ticket counters. A new global survey conducted by Global Business Travel Association (GBTA) and its European partner network shows 42 percent of travel buyers surveyed…
Brazil and Russia Lag Due to Political and Economic Turmoil Singapore (October 21) – China and India business travel will continue to grow at double digit rates over the next two years, a clear indication of the resiliency and strength of both economies. Despite recent economic turmoil, China business travel spending is projected to grow…
Singapore (October 21, 2015) – Business tourism in China and India will develop rapidly (growth rates will be measured in double digits), which is clearly indicated by the stable economic situation of both countries. Despite the recent unrest in the Chinese economy, it is expected that by the end of 2015, the growth of business…
Recently the GBTA Foundation released a study, in partnership with HRS, to better understand the expense reporting process at companies across the globe, to learn about the pain points in the process and to identify areas of opportunity to improve existing practices. One of the key takeaways discovered in the study is the true costs…
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