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US business travel spending is set to increase 3.1 percent this year and 3.7 percent in 2016,

yet a drop in oil prices along with economic weakness in China, Russia and the Middle East dampen the sector’s outlook.

As Michael McCormick, chief operating officer, Global Business Travel Association, noted, while the number of trips are up, total spending per journey is down and this can be linked to growing uncertainty and risk associated with the global economy.

US companies are becoming far more selective in authorising business travel abroad, therefore, inflation in the sector will be nearly flat this year and modest in 2016.