A new report from the Global Business Travel Association (GBTA) estimates that business travel contributes more than half a trillion dollars to the U.S. economy, and is directly responsible for 7.4 million jobs. The GBTA’s U.S. Business Travel Economic Impact Report said that business travel represents 3% of the country’s Gross Domestic Product (GDP) and generates $134 billion in taxes for governments.
U.S. companies spent an estimated $424 billion on business travel in 2016, GBTA reported, including $514.4 million domestic business trips. Business travelers spent an average of $520 on each trip (down about 2.2% from 2015), including $163 on lodging, $180 on transportation, $94 on food and beverages, $33 on entertainment, and $50 on shopping. Sales trips and other transient travel accounted for about half of all trips, while group trips represented about one-quarter of business trips and the rest were a combination of business and leisure travel.
An overnight stay was involved in three-quarters of all business trips in the U.S. – about 40% lasted 1-2 nights, 22% were 3-4 nights, and 14% lasted five nights or longer. The most popular destinations for business travel included California, New York, Texas and Florida – not coincidentally, the states with the largest population density and most business centres.
As for business travelers themselves, the GBTA report found that more than 60% are male, and that the average household income for a U.S. business traveler is about $82,000. About one-third possess a bachelor’s degree, and another third have a more advanced degree.
Source: Business Traveller