Companies Are Spending More on Business Travel
With confidence in the economy increasing, business travel spending is expected to rise considerably in 2014, according to a new report.
The report, from the Global Business Travel Association (GBTA), a trade group for business travel managers, forecasts that U.S. business travel spending will increase by 6.6 percent in 2014, to a total of $289.8 billion. Business travel spending totaled $272 billion in 2013, USA Today reported.
GBTA expects there will be 461 million trips over the year, which would represent a 1.7 percent increase from 2013.
The hike in spending is largely attributed to U.S. companies' renewed focus on foreign travel. The report estimates that spending on travel from the U.S. to international destinations will surge by 12.5 percent to a total of $36.7 billion this year, the outlet reported.
Business travel spending took a major hit during the recession, bottoming out in 2009, according to USA Today.
The GBTA report comes amid a debate about cellphone usage on planes. In December, the Federal Communications Commission announced it was considering lifting the ban on calls during flights. On Wednesday the FCC opened a 60-day comment period on the subject, USA Today reported.
PRINT THIS ARTICLE