Italy: An Economic Struggle Hurts Business Travel
Poor economic prospects continue to take their toll on the Italian business travel market according to the recent GBTA Foundation Western Europe business travel forecast. Italy’s labour and markets continue to lack the structural and political reforms necessary for getting the economy back on its feet.
Spending on business travel in Italy only grew 1.3 percent in 2014 to $31 billion USD. While the direction of business travel is projected to remain positive in 2015 for Italy, it is the slowest growing market in our Western Europe forecast with projected growth of only 1 percent. The outlook is only slightly better for 2016 as business travel spending is expected to advance 1.8 percent.
Also, check out the 5 Key Takeaways from the entire Western Europe forecast.