Global Business Travel Industry - Statistics & Facts
Travel and tourism is a huge industry, contributing more than 10 trillion U.S. dollars to the global economy in 2015. Business travel is a large part of this industry, making a total global economic contribution of 1.11 trillion U.S. dollars during the same year. Business travel managers from many countries expect business travel to increase in the coming years, suggesting the industry could make a much larger economic impact than it has previously. Spending was forecasted to grow by nearly seven percent in 2016.
As with leisure travelers, business travelers are subject to expenses whilst traveling. These expenses often include airfares, hotel costs and food costs. Unlike leisure travelers, however, business travelers are rarely expected to pay for their trips and it is usually the traveler’s company that foots the bill. Business travelers expected global airfare costs to rise by around 2.5 percent in 2017, with Eastern Europe and North America awaiting the largest increases.
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