Categorized | Etcetera

SHARP ECONOMIC RECOVERY WILL BOOST TRAVEL, SAYS ECONOMIST…

Posted on 17 March 2010

The U.S. economy has better than even odds of a swift recovery for business travel, a leading economist predicted Monday. Bernard Baumohl, chief global economist for the Economic Outlook Group, spoke at the opening session of the Business Travel News/National Business Travel Association Strategic Travel Symposium in New York. “I think the worst is over for business travel, which came to a screeching halt in 2008 and 2009,” Baumohl said. “There is a recovery underway, but there’s going to be a longer lag time between when the economy comes back and how soon we’ll see a recovery in business travel.”

 

The U.S., along with Canada and Australia, will be among the quickest to recover of the developed countries, while Europe and Japanwill experience a slower comeback, he said.

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