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September 2022, Virtual
September 29 2022, Virtual
Business travel spending in Brazil will decline 8.5 percent during 2016, according to the Global Business Travel Association's BTI Outlook for Brazil. Spending on Brazil-originated business travel totaled US$30.5 billion in 2015, a 4.1 percent decrease from 2014. Brazil's economy contracted at a similar rate, 3.8 percent, last year, the largest tightening in 25 years, according to GBTA. The association expects a modest recovery, though, in 2017, when it projects GDP growth will turn positive again, albeit by only 1.3 percent. GBTA expects the 2016 Summer Olympics to have little impact on Brazil's business travel forecast.