Spain Business Travel Peaked €12.5 Million in 2018
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 percent 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 percent and 4 percent 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 percent of total investment in travel in Spain.
The market growth will include the MICE investment section which constitutes 20 percent of the overall travel of Spanish companies. By 2025, it is expected to comprise 25 percent to 30 percent of the overall market.