Industry Volume

Corporate Travel Spend

Companies and travelers in 2013 were projected to spend more than $1 trillion on business travel. The U.S. Travel Association said direct spending on business travel by domestic and international travelers totaled $266.5 billion in 2013. To grow business, the association said U.S. residents logged 452 million trips of at least 50 miles that required an overnight stay. “For every dollar invested in business travel, businesses benefit from an average of $9.50 in increased revenue and $2.90 in new profits,” according to a 2012 return-on-investment study commissioned by the non-profit association.

Business travel costs are often the second or third largest expense item for many companies, after salaries and technology. Consequently, effective management of such a critical expense category has emerged as a core competency. Managing business travel today is a complex and multifaceted process that involves people in multiple departments and geographies, policies, technology, savvy negotiating skills and executive oversight.

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