Biz travel spending on an upward spiral
Recent surveys show what business travel spending, a positive indicator of the market, is up though not yet meeting levels before the recession. For example:
—The International Air Transport Assn. released statistics showing passenger traffic on first- and business-class seats was up 13.8 percent in July from the same month last year.
—Meanwhile, almost two-thirds of the travel firm owners, managers and agents who were surveyed said business travel bookings for airline seats and hotel rooms were up as of Aug. 30 compared with a year earlier, according to the Travel Leaders Group, a Minneapolis travel company.
“That’s good news for the struggling airline and hotel industries, which make a bulk of their revenue from the business traveler. The bad news is that the rate of business travel remains below pre-recession levels,” said the LA Times.
Nearly 61 percent of the travel managers and agents surveyed said travel bookings were either the same or below the rate of 2008. Statistics from the airline trade group showed the number of passengers flying in premium-class seats — typically occupied by business travelers — were still 8 percent below pre-recession levels.
A travel forecast by Egencia, the corporate travel arm of Expedia Inc., reached a similar conclusion.
"Corporations are traveling again this year, though still below 2008 levels," said Rob Greyber, president of Egencia.
By David Wilkening
David
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