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The U.S. Business Travel Industry: Business Travel’s Impact on Jobs and the U.S. Economy in 2016

Description
The focus of this study is to quantify the economic contribution made by business travel to the U.S. economy. To achieve this, we estimated total annual spending initiated by business travel in 2016 and used a standard economic model to translate that spending into GDP, jobs, wages, and taxes. The study also sought to profile U.S. business travelers in order to better understand their composition, behavior, motivations, and spending patterns.

The total economic impact of business travelers is separated into three distinct effects: direct, indirect, and induced. The direct impacts represent the spending with businesses that “touch” the traveler. Among other expenditures, this includes airfare, hotels, and car rentals. The indirect impact represents the upstream benefit to local suppliers of those businesses that are directly serving travelers. This includes, for example, food suppliers to restaurants. The induced impact adds the effect of travel-generated wages as they are spent throughout the U.S. economy.
Resource
The U.S. Business Travel IndustryThe U.S. Business Travel IndustryNew description3355 KB
Author
GBTA Foundation
Publisher
GBTA Foundation
Publication Year
2017
Topics
Travel Spending, Business Travelers
Resource Type
Research
Language
English
Subjects
Economic impact

Resource Details

Paul Yachnes
Paul Yachnes
Average Rating:
Date Modified: Jul 17, 2017
Category: GBTA Resources