U.S. Business Travelers Spend $424 Billion in 2016

American businesses took more than 514 million business trips, spending  $424 billion last year, according to the GBTA Foundation, the education and research arm of the Global Business Travel Association.

Additionally, the research found that for every 1% change in business travel spending, the U.S. economy gains or loses 74,000 jobs, $5.5 billion in GDP, $3.3 billion in wages and $1.3 billion in taxes. The foundation estimates that the business travel industry supports 7.4 million jobs and generated $135 billion in federal, state and local taxes.

In 2016, the average amount spent per business fell 2.2% to $520, including $163 on lodging, $180 on transportation, $94 on food and beverages in restaurants, $33 on entertainment and $50 on shopping and merchandise. These averages include both domestic and international inbound trips, as well as both day and overnight trips.

Nearly half (48%) of U.S. business trips were taken for transient purposes (sales trips, client services, government and military travel and travel for construction or repair), while 28% were group travel. About 25% of trips involved a combination of business and leisure.

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Tip of the Day
Remember that we are in an amazing business and you help people fulfill their dreams. Sometimes we just need to look around again to remind ourselves that we are in the mansions of industries with really fun and exciting products to sell.
 
Scott Koepf, TMR Columnist 
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Top Three Travel Destinations For Fall

1. Havana, Cuba

2. Lisbon, Portugal

3. Madrid, Spain

Source: Elite Daily

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