ALEXANDRIA, Va.--(BUSINESS WIRE)--Business travel spending and volume grew at stronger-than-expected rates in Q4 2010 and the GBTA Business Travel Index(TM) reached its highest level since the recession began in 2008, offering positive signs for the performance of the U.S. economy going forward. In fact, GBTA Foundation research shows that increasing business travel spending is a leading indicator of future job growth - meaning more good news may be ahead on the employment front.
The fourth quarter of 2010 showed the strongest seasonally-adjusted quarter-over-quarter business travel growth since the recession began. For the year, total U.S. spending on business travel grew by 3.2% -- up substantially from the 2.3% for the year forecast previously. Business travel spending in 2011 is now expected to be even stronger than estimated last quarter, advancing by 6.9% for the year - up from the 5% growth forecast previously.