Business travel may be on the rebound! In their latest business travel trends report, Travel Leaders says 63.2 percent of business-focused travel experts indicate that business travel bookings are higher than last year at this time.
Conducted August 3-30, the business travel trends are based on responses from Travel Leaders owners, managers and frontline travel experts throughout the United States who indicated that business travelers makes up 50 percent or more of their clientele.
“Over the past year and a half, businesses of all kinds worked to limit expenses, and travel costs were impacted. But solid economic growth requires getting ‘back out on the road,’” stated Roger E. Block, President of Travel Leaders Franchise Group. “While bookings still have a way to go before they return to peak levels we saw just over two years ago, our survey findings offer true optimism that businesses are feeling more confident about the economy and are taking measured, steady steps toward a more profitable future.”
Business Travel Compared to 2009
When asked: “Is business travel on the rebound compared to this time last year?”, participants responded as follows:
Yes, it is up significantly. 9.8 percent
Yes, it is up somewhat. 53.4 percent
It is the same. 21.5 9.8 percent
No, it is down somewhat. 15.3 percent
Business Travel Compared to 2008
When comparing business travel bookings to two years ago – just prior to the steep economic downturn the U.S. encountered – 39.3 percent of Travel Leaders say their bookings are up over 2008 while 16.6 percent indicate they are the same, and responded as follows:
It is up significantly, compared to 2008. 11.7 percent
It is up somewhat, compared to 2008. 27.6 percent
It is the same. 16.6 percent
It is down somewhat, compared to 2008. 30.7 percent
It is down significantly, compared to 2008. 13.5 percent
These results are part of a larger Fall Travel Trends survey conducted by Travel Leaders. The overall survey included responses from 415 Travel Leaders owners, managers and frontline travel agents throughout the United States; the specific business travel questions were completed by 163 predominantly business travel-related agents, managers and owners.