GBTA Forecasts Continued Growth in Brazilian Business Travel Spending Despite Challenging Global Economic Conditions

GBTA Forecasts Continued Growth in Brazilian Business Travel Spending Despite Challenging Global Economic Conditions PR Newswire SAO PAULO, September 11, 2012 SAO PAULO, September 11, 2012 /PRNewswire/ -- -Business travel spending remains positive despite global economic ripple effect- The Global Business Travel Association ("GBTA"), the world's premier business travel and corporate meetings organization, has released its second GBTA BTI™ Outlook report on Brazil as part of its semiannual series. The report, sponsored by Visa, includes the GBTA BTI™, an index of business travel spending which provides a way to distill market performance over a period of time. Key Highlights Brazilian business travel spending will grow by 9.3% in 2012 to $30.1 billion and another 12.6% in 2013 B r a z i l is on track to overtake South Korea for 8th place in business travel spend world ranking this year Organic growth is forecast to drive a 6% increase in hotel capacity. Whilst future hotel construction will be incentivized further by the forthcoming World Cup and Olympics, demand will still exceed supply GBTA BTI™ is poised to return to a stronger upward trajectory in 2012-2013 on the rising strength of the domestic economy Overall Brazilian business travel spending should expand even more rapidly as the global economy recovers Brazilian business travel spending is heavily geared to domestic spend (c.