CONFERENCE
CONFERENCE
GBTA outlines Frankfurt
conference plans GBTA (THE GLOBAL BUSINESS TRAVEL
ASSOCIATION) HAS CONFIRMED the topics for its European conference to be held later this year in Frankfurt.
The event, which will take place on November 28-30, will host discussions around new APIs, robotics and virtual engagement, and the future of airline distribution.
ITM 2017: Brexit and Trump overshadowing
story of global growth Leading economist says there is a positive economic outlook despite political threats
OBSESSING OVER BREXIT AND TRUMP HAS LED ECONOMISTS to miss a “good news story” of global growth, delegates were told at the ITM annual conference in Birmingham. But leading economist Jim Power warned that Brexit is a “long-term game” and cited challenges to economic stability, including high levels of government debt, growing protectionism and the threatened future of the EU. “What’s happening in the global economy, more than anything else, is what drives travel,” said Power. “The good news is after having lived through a global nightmare, things are getting better,” he added, citing posi- tive growth figures in the US, the UK and the Eurozone. Meanwhile, after a slowdown,
China’s economy is stabilising – impor- tant as it is the world’s second-largest economy, he said – and set to become more significant as ‘Easternisation’ continues, with the power shift from West to East an “incredible economic and political dynamic in the future”. But Power added that high Chinese debt levels are a threat to its stability. The IMF has forecast healthy global economic growth for the next two years, predicting 3.5 to 3.6 per cent for
14 BBT July/August 2017
2017 and 2018. But note, said Power, the difference between the Western economies (2 per cent growth) and the ‘emerging’ economies (4.5 to 4.8 per cent), with India leading those major Eastern economies with a projected 7.7 per cent GDP growth for 2018. Power said one positive outcome of Donald Trump’s administration – and potentially the UK’s Brexit process – is greater investment in travel and transport infrastructure, which is “badly needed” following years of fiscal austerity. But he warned of the ramifications of Brexit including the complexity of the WTO tariff regime of more than 5,000 different tariff rates.
TOP 10 TECH ITM presented a ‘Top 10’ of technology developments that it considers most likely to impact on business travel. It listed blockchain, ‘bot’ assistants and the growth of Facebook Messenger as a transaction platform – it now has more than 1.2 billion monthly users, with airlines and aggregators selling on it. Other trends included widening of the ‘sharing economy’, Uber’s autonomous Air Taxi being tested for rollout in 2020, and KERV’s finger ring with contactless payment capability.
The organisation said it had completed extensive research to understand the issues affecting both buyers and suppliers and this is reflected in the conference programme. GBTA added that buyers had
expressed an interest in interactive sessions and case studies, with requests for discussions on themes around risk and security as well as ways to improve communications, programme management and traveller safety. To book your place at the GBTA
Conference 2017 (in partnership with VDR) go to
europeconference.gbta.org
TAXES
Scotland votes to scrap APD
A BILL TO REPLACE AIR PASSENGER DUTY IN SCOTLAND has been passed by the Scottish Parliament. MSPs voted by 108 to 11 to replace APD, which is charged on all passenger flights from UK airports, with a new devolved ADT (Air Departure Tax) from April 2018.
The Scottish government wants the tax cut by 50 per cent, before eventually scrapping it completely. Finance secretary Derek Mackay said ADT is part of a strategy for sustainable growth boosting trade, investment and networks.
“Scotland is already an attractive destination for business and inbound tourism, but it is important, particularly given the economic threat posed by Brexit, that we continue to be open to key and emerging markets,” Mackay said. Opponents of ADT claim it will cost
the country £189 million a year in lost revenue.
BUYINGBUSINESSTRAVEL.COM
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