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.