The National Business Travel Association (NBTA) Foundation’s new Business Travel Quarterly Outlook says U.S. -originated business travel spending–including for accommodations like corporate housing–is expected to grow 3.8 percent this year over 2009, despite projections that economic and business travel growth will slow through the second half of 2010. The new Business Travel Quarterly Outlook also found that business travel will continue to advance by 6.7 percent and 6.9 percent for 2011 and 2012.
The report shows that the total number of U.S. business trips saw a sharp decline of 15.6 percent during the recession from 511 million trips in 2007 to 431 million in 2010.
The decline was driven in large part by the drop in transient business travel, comprising 60 percent of the total, as a result of tighter travel management, shorter trips, and the use of technological travel alternatives. However, through 2012, transient travel is expected to advance 31 percent as the economy continues to recover and travel restrictions are lifted.
To learn more about the report’s findings, click here .