Business Travel in the United States on The Rise
Sharon MillerIt finally seems like there is some good news for the travel industry in the United States. Apparently corporate travel, which is how most airlines make their money, is on the rise. This is good news, not only for the airline industry, but also for car hire companies and hotels as well.
These reports go on to show that the Global Business Travel Association has projected that corporate travel spending has actually grown by 7 percent in 2011. This means that business travel spending grew to a total of about $246 billion. Overall, total United States trip volume is expected to grow to about 3.2 percent to 446 million.
Many experts have admitted that they are pretty shocked by these projections. This is because travel was actually down some 14 percent in 2009. This means that a huge increase in the business sector must of taken place in order to see this kind of rebound hit the states so quickly.
The Global Business Travel Association expects that the number of business trips that are taken is going to grow by 3 percent between the years of 2009 and 2012. Not only that, but the total amount that businesses spend on hotels, planes and car rentals is going to grow by an amazing 17 percent to just over $70.5 billion.
Lane Dubin, who is the vice president of American Express Global Business Travel said that the United States is still not at a pre-recession level. However, they have seen “across the board increases” in volume starting from last year. These increases have continued into this year, which is positive news. Lane went on to say that they have seen some customers cut back their travel budget by as much as 50 percent during the recession. However, some are now seeing that this was just far too extreme.
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