123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Travel >> View Article

Business Travel Expected To Rebound

By Author: Steve Robinson
Total Articles: 468

A slowly improving economy, as well as a ready supply of cheap travel options, including cheap airplane tickets and discount hotel rooms, is expected to contribute to spending on business travel increasing next year.

The Global Business Travel Association (GBTA) is projecting that spending on business travel will experience a healthy increase in 2014. However the partial shutdown of the federal government is having a negative impact on the economy and could lessen the projected increase.

U.S. business travel is forecast to increase slightly more than 7 percent next year, to almost $289 billion, with the number of trips rising a little less than 2 percent to 459 million.

Forty percent of the members of this Association said that the government shutdown has negatively affected them, their business, or their workers. 57 percent of that group noted that the business travel industry have been adversely impacted as a result of cancelled meetings or business opportunities in the U.S.

GBTA continues to expect a growing U.S. economy, consistent profits, and increasing investments, will all contribute to companies spending more on trips next year.

Travel abroad is expected to be even stronger. Spending on business trips outside the U.S. is estimated to grow by over 12 percent to almost $37 billion in 2013. This compares very favorably to the modest increase of less than 2 percent in 2013.

Another key reason for the forecasted rebound in traveling is the expected rise of spending on group travel, including off site meetings of employees and industry conventions. Spending here is predicted to go up by over 7 percent to $124 billion in 2014.

Future increases in overall spending on travel are largely based on U.S. companies being profitable and sitting on excess cash. Business travel activity is stimulated when the economic conditions appear to be conducive to exploiting new business opportunities.
www.cheapfares.com

Total Views: 88Word Count: 307See All articles From Author

Travel Articles

1. Reduce Your Cost Of Travel With Cheap Flight Deals
Author: Amanda Sutcliffe

2. Are You Looking For Bali Holiday Packages
Author: John Weds

3. International Shimla Summer Festival
Author: Rgyan

4. New Zealand Work Permit Consultants
Author: Oasis Resource Management

5. 9 Naturally Beautiful But Uncommon Places To Visit In Delhi
Author: jagjit singh

6. How To Search A Good Taxi Service In Udaipur
Author: Alikhan

7. Travel Technology Solutions Can Help Your Business Grow!
Author: Glenn Dean

8. 6 Doubts About Work Visa To Be Cleared By You
Author: Jason Briggs

9. Best Monsoon Treks In Nepal
Author: Basanta Limbu

10. Enjoy Trekking In Beautiful Destination To Make Your Vacation Joyful
Author: himalayajoy

11. Rejoice Well By Planning To Upper Mustang Trekking Anytime
Author: himalayajoy

12. Perto Princesa: Home Of The Longest Underground River
Author: our7107islands

13. Take The Better Trekking Experience In Nepal Region
Author: infonepaltreks

14. Delightful And Adventurous Upper Mustang Trek For This Vacation
Author: infonepaltreks

15. Fairy Tale Worthy Honeymoon Experiences With Car Service Of Sacramento
Author: Enny Lee

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: