BUSINESS TRAVEL GUIDE

Market Assessment

According to the Global Business Travel Association (GBTA, www.gbta.org), U.S. business travel spending in 2015 was $290.6 billion, a 3.1% increase from the previous year. There were 499.2 million domestic person business trips in 2015.

GBTA forecasts U.S. business travel spending to increase 3.2% in 2016, to $299.9 billion, and 3.5% in 2017, to $310.4 billion.

“The U.S. business travel market is an island of stability in a sea of global volatility. Business travel inflation in the United States has been at historically low levels due to a stronger dollar and plummeting oil prices.”

Michael W. McCormick Executive Director GBTA, 1/22/16

The U.S. Travel Association (USTA, www.ustravel.org) assessed business travel spending in 2015 at $296.3 billion, an amount that represents one-third of total U.S. travel spending.

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8.2 Characteristics of Business Travel

The following are findings of recent surveys by the USTA:

• Solo travelers account for 64% of business trips.

• Cars, vans, and small trucks account for 77% of business travel; air travel accounts for 13%.

• Hotels, motels, and resorts account for 80% of business trip accommodations.

• The average length of stay for overnight business trips is three nights.

• The majority (57%) of business travelers are men; 43% are women.

• A small group of business travelers take the majority of trips. Frequent business travelers (10 or more trips per year) make up 17% of all business travelers, yet they take 64% of all business trips.

• The majority (64%) of U.S. business travelers are infrequent travelers, taking one to four business trips per year, but they account for only 20% of total business trip volume.

• Over 60% of all business travelers said they are more likely to drive rather than fly on trips of 300 miles or less.

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