Business degree holders who plan to travel more for work purposes this year will not be alone. Based on data from the Global Business Travel Association’s (GBTA) Travel Quarterly Outlook – United States, an increase in corporate travel is expected in 2012.
According to GBTA officials, 2011 ended on a stronger note than many expected in terms of business travel. In quarter three, total business travel spending was up 8.3 percent, with total spending on business travel in 2011 expected to be $251.9 billion.
Over the next 12 months, GBTA expects spending on business travel to increase by 4.6 percent.
"Although the economic recovery is still modest, we see business travel remaining healthy and growing at a steady rate that outpaces [gross domestic product] growth," said Michael W. McCormick, executive director and chief operating officer of GBTA.
More international business travel, rather than domestic, is expected over the course of 2012. Even though many countries around the world are experiencing serious economic challenges, professionals will continue to travel abroad, as companies seek to gain the competitive advantage that comes with in-person meetings, according to GBTA officials.