The organization expects trips from the U.S. overseas will also be constrained by worries overseas, including recession in Europe and slower growth in China.
GBTA projects international outbound spending to grow 2.5 percent this year. Less than a year ago, GBTA forecast growth of more than twice that.
Hesitation among business travelers is hurting airlines, who count on the well-heeled set to hold up their bottom lines. Business travelers tend pay more because they tend buy airline tickets closer in to their departure date than vacationers. They're also, of course, more likely to sit in the front of the plane.
On Monday, United Airlines said traffic and passenger revenue fell in September. United, the world's largest airline, is operated by United Continental Holdings Inc. Passenger revenue, which measures how much money the airlines make from fares and fees, either declined or rose less than expected among major carriers last month._____ Samantha Bomkamp can be reached at www.twitter.com/SamWillTravel
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV