Improving economy means more business travel
Thursday, June 6, 2012 4:26:53 PM
The U.S. economy is improving more quickly than expected, according to new data from the Commerce Department, and the rate of business travel seems to be following in its footsteps.
"With the economy picking up speed, owners who have been tentative since the downturn have started to gain more confidence and are taking more and more trips," Deanna White, president of Flexjet, told Forbes. "People are ready to get back in business."
This correlation between a growing economy and an increase in the rate of business travel seems to be in line with 2013 predictions for the industry.
Business travel spending is expected to rise by 5.1 percent this year, according to the Global Business Travel Association, which is a substantial increase from the 1.8 percent growth the industry saw in 2012.
"We feel like we're finally into a very solid part of the recovery and we suspect it will continue in the next two years," Joe Bates, vice president of GBTA, told USA Today.
As the economy continues to improve, frequent business travelers can expect to see more of their colleagues joining them in car rentals on American roads.