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GBTA BTI™ Outlook Annual Global Report & Forecast Prospects for Global Business Travel 2020-2024

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Description
Business travel is a term that encompasses many activities executed in support of any number of business objectives: sales, training, customer support, incentives, professional development, and operations, to name but a few. Depending upon the type of organization, business travel can have many perspectives. For example, travel suppliers see it as a significant source of revenue and a primary market segment. Corporate management sees business travel as both a critical business investment and a controllable expense. Travel managers view it as a resource optimization and duty of care challenge.

Policymakers see travel as a generator of jobs, income, and tax revenue. Finally, veteran road warriors see it as an important part of their everyday jobs. To better understand the value of a business function, you need to measure it. But the activity of business travel lacked a comprehensive global description and a set of metrics from which travel managers, suppliers, and facilitators could plan for the future. In 2009, the Global Business Travel Association (GBTA) embraced this challenge by producing the first-ever study of global business travel activity. The result was an exhaustive analysis of business travel spending, productivity, and growth that originally covered 75 countries across 48 industries over fifteen years, including a rolling 5-year projection. The analysis has been enhanced and updated each year since then. GBTA has once again updated the study for 2020-2021, as well as its projections and companion database.

Dissecting the impact of the coronavirus pandemic is obviously the biggest story and challenge to understanding where we are at this moment and how quickly we can recover in the years ahead. The recent development and nascent distribution of a vaccine marks a critical milestone in that recovery, but there is a long road ahead. Business and business travel must navigate the fallout of the pandemic - a global recession, constricted trade, a myriad of mitigation policies, the financial blow to travel suppliers and whole new level of duty of care. We must also weigh the potential longer-term and lasting impacts of the pandemic on how businesses and employees communicate, where they choose to locate, and when face-toface meetings are safe again. Tracking business travel performance and planning for the near and long-term has never been so important.
Resource
2020 GBTA Global BTI- FINAL-2-17-21 (Full Report).pdf2020 GBTA Global BTI- FINAL-2-17-21 (Full Report).pdf18664 KB
Author
Rockport Analytics,
Sponsor
decb4f437329b347b3c8ab02dfb1e2d0-huge-en
 
Publication Year
2021
Resource Type
Research
Language
English
Topics
Business Travel Index, COVID-19
Subjects
Business Travel Index, Travel spend
Keywords
GBTA BTI, Business Travel Index, travel spend, coronavirus, COVID19

Resource Details

Mark Sharoff
Mark Sharoff
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Date Modified: Feb 2, 2021
Date Last Modified: Mar 9, 2021
Category: GBTA Resources