United Kingdom at a
Uncertainty around Brexit — the U.K.’s plan to operate outside the European Union after 2019 — is sparking reluctance among economic investors.
Businesses spent more than US$90 billion (£73 billion) traveling to, from and within the United Kingdom in 2017, according to BCD Travel analysis of Tourism Economics data. Domestic travel accounted for more than two-thirds, with the remainder evenly split between inbound and outbound international trips. Between 2015 and 2017, business travel spending grew between 5% and 8% per year. But expansion is expected to hit just 3% in 2018. Economists predict 3-4% annual growth through 2022, with domestic, inbound and outbound business travel spending increasing at similar rates.