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U.S. Business Travel Industry Responsible for Almost 2% of U.S. GDP and 3.5% of Employment in Latest Full-Year Figures
GBTA | June 5, 2024
GBTA’s study reveals for every 1% of growth in business travel, the U.S. economy sees nearly 60,000 jobs, $2.9 billion in paid wages, $1.2 billion in tax revenue and $4.8 billion in new GDP The Global Business Travel Association (GBTA) today unveiled a new study, the “GBTA U.S. Economic Impact Study: Business Travel’s Impact on Jobs and the U.S. Economy,” which quantifies the significant economic impact of traveling for work in the U.S. The report shows the business travel industry provided a major boost to the U.S. economy in 2022*, the latest full year for which a complete set of data is available for analysis. The U.S. was t...
Canadian Business Travel Is Forecast to Return to Pre-Pandemic Levels in 2024, Reaching $25.9 Billion USD and 13.5% Annual Growth
GBTA | April 25, 2024
GBTA’s Canada Conference spotlights the resurgence in business travel spending, evolving industry trends, recognition of association volunteers and introduction of new regional leaders Business travel in Canada is poised for a strong, evolving future, according to the takeaways and forecasts unveiled during the Global Business Travel Association (GBTA) Canada Conference 2024 held in Toronto this week, April 22-24. As the premier trade association and “voice” of the global business travel industry, GBTA welcomed business travel professionals, companies and guests from across Canada and beyond to the Beanfield Centre for its 20th ann...
Global Business Travel Industry Forecast Is for Accelerated Rebound, Spending to Reach $1.8 Trillion by 2027
GBTA | August 14, 2023
Expected business travel spending accelerates due to pent-up demand, return of travel and meetings, improved COVID landscape, stable economic conditions and inflationary factors, according to the latest GBTA Business Travel Index™ Outlook report The global business travel industry has rebounded at a more accelerated rate than expected just a year ago and is now expected to surpass its pre-pandemic spending level of $1.4 trillion in 2024 − and grow to nearly $1.8 trillion by 2027. In 2022, global business travel spending rose 47% to $1.03 trillion, with strong gains continuing and 32% growth expected in 2023. These robust gains were fue...
