Business Travel Continues To Gain In Importance

Is long-haul business travel still common in the age of the Internet? And if so, is it necessary? The answer is a resounding affirmative. According to data from the Global Business Travel Association, annual business travel is expected to increase 25% between 2013 and 2018. Even more impressively, Oxford Economics reported in 2013 that every dollar companies invested in business travel during the recent recession returned $9.50 in revenue and $2.90 in profits, an extraordinary return when nearly every other investment was pointing toward the red. Nearly half of businesspeople say they’ve lost a contract or client due to not having enough face-to-face meetings, and that doesn’t include those who haven’t realized it was the reason for their defeat. More.