Germany: A Bright Star in Europe’s Sky


Germany holds its position as the brightest star in the European sky when it comes to business travel as strong economic growth and relatively competitive labour markets continue to propel business travel activity. The GBTA Foundation’s recent business travel forecast for Western Europe showed overall spending on business travel in the country in 2014 finished up 7.7 percent over 2013.

Germany_WesternEurope2015H1

Lower energy prices and a weaker euro are both playing a role in boosting the German economy. The overall global economy remains relatively weak though and another potential risk for Germany is fallout from the sanctions placed on Russia over the situation in the Ukraine. Despite this, GBTA projects robust double-digit business travel spending growth this year at 10.1 percent. The strong growth will continue through 2016 moderating only slightly to 9.4 percent growth with annual business travel spending nearing $70 billion USD.

Germany2_WesternEurope2015H1

 

Also, check out the 5 Key Takeaways from the entire Western Europe forecast.

You may also like

Comments are closed here.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Follow GBTA on Twitter

Archives