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A new report out today, says that companies are expected to spend more money on business travel this year, including more foreign destinations. Last year, there was an increase in business travel and the Global Business Travel Association (GBTA), a trade group for business travel managers, hopes that the increase will continue into this year.
According to USA Today, the group anticipates that U.S. business travel spending will rise 6.6% to $289.8 billion in 2014 and trips rising by 1.7%, to 461 million. Spending on foreign travel should also rise 12.5% this year to $36.7 billion.
An executive director and chief operating officer of the GBTA, Michael McCormick, said the improving economy is encouraging companies to spend more to send their employees off site. “Companies are certainly feeling more confident that they will make a return on their investment and get results for the bottom line.”
The spending on business travel plummeted during the recession. Hitting rock bottom in 2009, the climb has been slow but steady. CEO of Eliassen Group, David MacKeen, said he’s been sending more employees on trips to meet clients and potential clients. This way, he makes more business. “I think technology, video conferencing, they’re great, they’re a necessity,but i really don’t think you can replace the personal connection.” For job opportunities at the GBTA, click here.
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