Business Travel Industry in the U.S. - Statistics & Facts

Business Travel Industry in the U.S. - Statistics & Facts

Statistics and facts on the U.S. business travel industry

The travel and tourism industry is one of the largest industries in the United States. Despite being one of the first industries to suffer greatly in the aftermath of the September 11 terrorist attacks in 2001, it was quick to recover and, by 2013, made a total contribution to GDP of over 1.4 trillion U.S. dollars. Business travel makes up a sizeable portion of this industry, contributing 274.7 billion U.S. dollars directly to GDP in 2013 – 29.2 percent of travel and tourism’s overall direct contribution. This is likely to increase year on year with domestic business trips predicted to reach 480.5 million by 2016 – and more business travel means more business travel spending.

Business travel spending is expected to increase by 5.9 percent in the United States in 2014. In terms of the global outlook, however, it is Brazil (15.9%), Russia (8.2%), India (13%) and China (16.8%) who are expected to see the biggest increases in business travel spending in 2014. The average cost of business travel in the U.S. amounts to 293 U.S. dollars per day. In San Francisco, the most expensive U.S. city for business travel, this figure is much higher and average costs per day can reach 444.66 U.S. dollars. With such large amounts of money being invested in this growing industry, how are companies choosing to manage travel?

In 2012, Travel Leaders Group was the most successful travel management company in the world in terms of air ticket transactions, making over 2.1 million transactions. However, in the same year, a global footprint was one of the least important considerations for business travel buyers when choosing a travel supplier: the most important factor was finding the lowest negotiable rate, followed by finding the highest level of service. But this could all change within the next two years according to business travel managers. In 2013, 50 percent of business travel managers thought health and well-being was a mega-trend that would affect travel management over the next two years, and 49 percent thought environmental awareness would. As well as this, travel management has become much more mobile in recent years. By 2012, more people than ever were using smartphones and tablets to book travel and, in 2013, 54 percent of U.S. companies either had, or were developing a mobile communications strategy for travel.

Photo: / Kolobsek

Show more   

Embed Top Facts

Recommended statistics about “Business Travel Industry in the U.S.”
Recommended Studies
  • The complete topic in one convenient package
  • Instant access and download
  • Great time-saver
You may also be interested in...