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According to a GBTA report, 74% of travel managers expect most types of business travel will reach pre-pandemic levels by the end of 2023.
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Total spend value for U.S. business travel processed via TripActions Liquid grew 114% from January 2022 through March 2022, while March 2022 saw a 1,681% YoY increase in spend.
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Three in four travel managers expect business travel volume at their company will be much (17%) or somewhat (58%) higher in 2022 than in 2021. However, 32% report that Omicron will likely have a “very negative” impact on their company’s revenue derived from business travel.
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Certify's quarterly SpendSmart report shows an increase in ride-hailing use among business travelers, although car rentals and taxis are still holding their ground in certain markets.
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Eighty percent of survey respondents made time for themselves during business trips. Ninety-two percent of bosses supported employees taking part in non-work-related activities.
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In the second quarter 2017, ride-hailing service Uber gained 2% to claim 55% of ground transportation overall, according to the Certify SpendSmart Report. Taxi dropped to 8% while car rental saw a two-point decline in business travel transactions.
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Despite global uncertainties, business travel spending is expected to advance 6% in 2018, followed by 7% growth in 2019 and 2020. China continues to top business travel spending for the second straight year.
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A new report by the Global Business Travel Association (GBTA) Foundation found that U.S. businesses spent $424 billion to send travelers out on the road for 514.4 million domestic business trips in 2016.
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In 2017, the Global Business Travel Association (GBTA) forecasts a loss of over $1.3 billion in travel-related expenditures for U.S. business travelers, including rental cars, hotels, and food.
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According to the Certify SpendSmart Report for Q1 2017, ride hailing now accounts for 59% of all ground transportation transactions. Car rental accounts for 31% of transactions while the taxi industry only takes 10%.
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