Business Travel in the US to Rebound in Two Years, a Study Projects

It may take another two years for business travel in the US to rebound, according to the 2004 Business and Convention Travelers Report, the first study to examine corporate travel compiled jointly by the Travel Industry Association (TIA) and the National Business Travel Association (NBTA).

Suzanne Cook, TIA´s senior vice president of research, indicated that between 1998 and 2003, US domestic business and convention travel declined more than 14 percent. The good news is that there are signs of recovery in 2004.

The study shows business travel rose 4% during the first half of 2004 and to a similar level during the third quarter as well. Should this trend continue, business travel could return to levels last seen in 1998, a peak year for the industry.

The study also found that the majority of US business travelers (65%) are infrequent travelers who take 1 to 4 business trips a year. However, they account for only 20% of the total business trip volume.

Frequent business travelers, those who take 10 or more trips a year, make up 17 percent of all business travelers, taking 64 percent of all business trips. Overall, the average business traveler takes 7 business trips a year.