Archive for January, 2013
Thursday, January 10th, 2013
According to the Global Business Travel Association in a report released Tuesday, U.S. business travel spending is expected to rise 4.6 percent in 2013 to $266.7 billion. However, the report predicts a 1.1 percent drop in trip volume. That suggests a higher average cost per trip than in 2012, indicating that companies will spend more real dollars on business trips.
While business travel spending slowed through the end of 2012 as companies postponed big spending decisions until after the U.S. presidential election and fiscal cliff debate, but is expected to rebound in 2013. According to the association, group travel will be a major contributor to the increase in spending in 2013 with annual growth around 5.2 percent this year following a 1.3 percent increase in 2012.
“While companies will approach the first half of the year with some caution, pent-up demand to get back on the road should hopefully fuel accelerating growth in business travel spending through the end of 2013,” according to a statement attributed to GBTA executive director Michael McCormick.
Technology will continue to be the traveler’s best friend in 2013, with mobile/WiFi connectivity and a growing range of business travel apps making travel smoother and more productive. Also, while unmanaged travel programs may tempt some companies with a low-control culture, the real risks to employee safety, and cost optimization must be carefully considered.
Getting a handle on business travel in 2013 will have long-term benefits as well since for 2014 the GBTA forecast total U.S. business travel spending to jump 7.3 percent on a 1.7 percent increase in trip volume, also.
“While, many companies will spend more, but travel less this year, many of CLC Lodging’s customers just simply don’t have that option since their business depends on travel,” said Tim Downs, President of CLC Lodging.
Unsure where to start? With savings of 20-40% on hotels nationwide and in Canada, Hotel locater Apps, and other online tools and reporting options, CLC Lodging provides the service and metrics to improve your travel policy and bottom line. Go to www.clclodging.com for more information today.