Published on : Monday, March 25, 2019
The business travel in Spain stood at 12.5 million euros as per a study by Gebta and Braintrust. The study is called ‘2025, a look at the future of business travel’ and it projects the Spain business travel to 15.2 million euros in 2025.
These figures represent an accumulated growth of 22 per cent in investment in business travel for the same period of time (2019-2025). It is similar to the growth recorded in recent years out of the crisis, which have moved between 3.5 per cent and 4 per cent annually, in terms of volume of expenditure.
The study on Spain business travel captures the context in which the business will develop in the medium term, and notes the high concentration of travel spending in companies with more than 20 employees, representing 83 per cent of total investment in travel in Spain.
The market growth will include the MICE investment section which constitutes 20 per cent of the overall travel of Spanish companies. By 2025, it is expected to comprise 25 per cent to 30 per cent of the overall market.
Juan Carlos González, president of Gebta said, “The study shows the solidity of business travel, which will continue to play a key role in the growth and development of the Spanish economy in the coming years. This projection represents a significant change in the scenario due to the confluence of various factors, which will lead to an acceleration in the pace of integration and digitalisation of processes, with the aim of guaranteeing maximum efficiencies, while at the same time making it easier to operate in a predictably concentrated context”.