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.
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.
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.
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.
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.
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.
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.
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.
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.
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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