ALEXANDRIA, Va.–(BUSINESSWIRE)–Business travel spending and volume grew atstronger-than-expected rates in Q4 2010 and the GBTA BusinessTravel Index(TM) reached its highest level since the recessionbegan in 2008, offering positive signs for the performance of theU.S. economy going forward. In fact, GBTA Foundation research showsthat increasing business travel spending is a leading indicator offuture job growth – meaning more good news may be ahead on theemployment front.

The fourth quarter of 2010 showed the strongestseasonally-adjusted quarter-over-quarter business travel growthsince the recession began. For the year, total U.S. spending onbusiness travel grew by 3.2% — up substantially from the 2.3% forthe year forecast previously. Business travel spending in 2011 isnow expected to be even stronger than estimated last quarter,advancing by 6.9% for the year – up from the 5% growth forecastpreviously.

“These are very heartening signs. Business travel spending iscoming back at robust levels, indicating the shape of things tocome – namely more travelers on the road, an improving economy, anda positive environment for continued job growth,” said Michael W.McCormick, GBTA Executive Director and COO. “Thanks to increasingcorporate confidence, companies are investing more in businesstravel which will further stimulate business activity and economicgrowth.”

The findings were released today in the latest BusinessTravel Quarterly Outlook – United States from the GlobalBusiness Travel Association Foundation, the education and researcharm of the Global Business Travel Association (GBTA), sponsored byVisa.

GBTA Business Travel Index(TM) Is Snapping Back toPre-Recession Levels
The GBTA Business Travel Index (BTI)(TM) provides a way to distillmarket performance and the outlook for business travel into asingle metric that can be tracked over time. Initially forecast at108 for Q4 2010, the BTI(TM) has been revised upward to 112 for Q42010, its highest point since the beginning of the global recessionin Q3 2008.

This revision is equal to $1.9 Billion more business travelspend than previously forecast. The increase of nine points overthe Q3 2010 BTI(TM), which came in at 103, means there was a total$4.2 Billion increase in business travel spending between Q3 2010and Q4 2010.

The rise in the BTI(TM) was driven by stronger economic growthand the expectation of slightly higher prices in followingquarters. For Q1 2011 the BTI(TM) is projected to fall slightly to110, a small cyclical reduction from a stronger-than-expectedfourth quarter but still well above 106, where the BTI(TM) stood inQ1 2010.

Rising Prices as Demand Grows
With economic improvement and more business travelers hitting theroad, travel prices are also recovering from their sharp declinesduring the recession. Rate analysis based on an aggregate ofairfare, lodging, meals, ground transportation and car rentalsshows travel prices in 2010 increased by 2.5% and are projected toincrease between 2% to 4% for 2011.

International Travel Increases; Group Travel ContinuesIts Comeback
International markets continue to present new opportunities forcompany growth and remain top of mind for many executives as theylook to maximize this potential. Final numbers for 2010 show growthof 17.3% in international travel spend for the year. Internationaloutbound travel is expected to continue to grow by 7.9% in 2011,proceeding at a faster rate than overall business travelgrowth.

Also in line with better-than-expected Q4 results and risingoverall business travel levels, group travel spend grew in 2010 by6.0% and is expected to advance by 7.0% in 2011.

Concluded McCormick, “Group travel, events and conferences arelarge expenses with long lead times. Companies lacked theconfidence and clarity to make these longer-term investments whenthe economy was struggling, but these increases are furtherevidence that companies are feeling much better about investing inbusiness travel and face-to-face meetings once again.”

Key Metrics
The Business Travel Quarterly Outlook – United States isfree of charge to all GBTA Members (gbta.org/foundation/resourcelibrary).Non-members may purchase the reports through the GBTA Foundation at[email protected]. Members of the media seeking reportdetails should contact GBTA Communications at [email protected].

About the Business Travel QuarterlyOutlook
The Business Travel Quarterly Outlook – United States projectsaggregate business travel trends over the next eight quarters andincludes key buy-side metrics such as total business travel volumeand spending, plus supply-side projections of changes in costs,across both transient and meetings travel. Business TravelQuarterly Outlook – 2011 Q1 United States is the third report inthe series with subsequent releases being published on the secondTuesday of each quarter of the Fiscal Year 2011.

The Business Travel Quarterly Outlook uses an econometric modelto better inform the forecast process. The model explicitly relatesmeasures of business trip volume and spending, sourced from D.K.Shifflet & Associates to key economic and market drivers ofbusiness travel including: U.S. Gross Domestic Product (GDP) andits components, U.S. Corporate Profits and Cash Flow, U.S.Employment & Unemployment, ISM Business Sentiment Index, KeyTravel Components of CPI (airfare, lodging, food away from home,rental cars, fuel, transportation), among other components.

About the GBTA Foundation
The GBTA Foundation is the education and research foundation of theGlobal Business Travel Association (GBTA), the world's premierbusiness travel and corporate meetings organization. Collectively,GBTA's 5,000-plus members manage over $340 billion of globalbusiness travel and meetings expenditures annually. GBTA providesits network of 17,000 business and government travel and meetingsmanagers, as well as travel service providers, with networkingevents, news, education & professional development, research,and advocacy. The foundation was established in 1997 to supportGBTA's members and the industry as a whole. As the leadingeducation and research foundation in the business travel industry,the GBTA Foundation seeks to fund initiatives to advance thebusiness travel profession. The GBTA Foundation is a 501(c)(3)nonprofit organization. For more information, see gbta.org and gbtafoundation.org