Senior businessman traveling to work wit car,having little break.
A new study found that a majority of executives agree that reducing business travel may represent short-term savings but would have long-term negative impacts on revenue and can cause a company to lose its competitive advantage. In light of these findings, the U.S. Travel Association is encouraging companies to prioritize a return to normal business travel operations.
Research indicates domestic business travel will experience strong growth in 2022, although experts say increased interest rates, high inflation, labor shortages and supply chain challenges are stifling progress. With more businesses setting aggressive goals to reduce their carbon footprint, companies may also choose to minimize business travel to achieve net-zero emissions.
U.S. Travel is advocating for federal policies to offset these threats to business travel and help accelerate the sector’s recovery – including a tax extenders package with a temporary restoration of the entertainment business expense deduction and an extension of full expensing for business meals. Additionally, U.S. Travel is advocating for the federal government to play an active role in drawing large international meetings and events back to the U.S.
Source: Travel Pulse