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

Business Travel Expected To Rebound

Profile Picture
By Author: Steve Robinson
Total Articles: 468
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

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: 221Word Count: 308See All articles From Author

Add Comment

Travel Articles

1. Best International Flight Tickets
Author: Welovetravel

2. Travel In Style: Why The Innova Crysta 7-seater Is Perfect For Family Road Trips
Author: Smart Holidays

3. Cincinnati Taxi By Moe’s: Where Tradition Meets Every Turn Of The Road
Author: Moe's Airport Transportation Service

4. Tourism Fair Sees Great Success In kolkata
Author: Probin Das

5. Travel In Style: Premium Car Service From Naples To Ravello Along The Amalfi Coast
Author: Ravello Limousine Service

6. Book Domestic Flight Tickets With Welovetravelusa
Author: WeLoveTravel

7. Foods On Annapurna Base Camp Trek: What's On The Menu?
Author: Krishna Thapa

8. Conquer Nepal’s Iconic Summits With Island Peak, Mera Peak And Lobuche Peak Climbing Adventures
Author: snowyhorizon

9. Unleash Your Adventurous Spirit With Ama Dablam, Manaslu, And Himlung Himal Expeditions
Author: snowyhorizon

10. Etihad Airways Cancellation Policy
Author: Fareasky

11. Foods On Manaslu Circuit Trek: What's On The Menu?
Author: Haven Holidays Nepal

12. Booking International Flights With Welovetravelusa
Author: welovetravelusa

13. 7 Highlights Of Manaslu Trek
Author: Prabin Sen

14. 7 Surprising Benefits Of Booking A Raxaul To Nepal Tour Package Today
Author: I'm a Akash Kumar

15. How To Find The Best Deals On Business Class Flights To Dubai
Author: FlightsLux

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