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Business Travel Quarterly — United States (Visa) Did you know GBTA not only monitors global business travel spending, but also tracks and forecasts US-originated business travel spending on a quarterly basis? How do we accomplish this? We take a LOT of data, crunch the numbers, use our expert insights, and spit out the results in one easy to understand number! What data do we crunch? We start with a monthly survey of 60000 households in the United States who detail all of their travel for the month, including business travel. We then add in a few other items, such as: • US Gross Domestic Product (GDP) and its components • US Corporate Profits and Cash Flow • US Employment & Unemployment • ISM Business Sentiment Index • Key Travel Components of CPI (airfare, lodging, food away from home, rental cars, fuel, transportation) • Hitwise® data (www.hitwise.com) analyzing Internet traffic to business-oriented travel Websites and to potential travel alternative sites such as GoToMeeting and WebEx • Productivity rates for business travel spending as a key business input to US corporations • Supply variables such as the number of rooms, occupancy, available Seat Miles (ASM), and rental car fleet size from various travel information vendors and government/NGOs. From all this, we create the Business Travel Index™ or BTI™. The BTI™ simply represents total business travel spending in the United States. The index uses the 2nd quarter of 2005 as the base quarter, meaning it equaled 100 …
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Global Business Travel Spending (Visa)
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Global Business Travel Spending (Visa) Did you know GBTA is the ONLY source for global business travel spending data in the world? The Business Travel Market Metrics study, sponsored by Visa, tracks business travel spending for 48 industry sectors in 75 countries over a period of 12 years. What’s more, the report forecasts spending through 2014. This amounts to more than 117000 data points! How do we make sense of all that data? Here is a sample… Global business travel will reach $896 billion USD in 2010, up 6.2% from the recessionary low of $844B USD in 2009. The previous peak was reached in 2008 at a revised level of $926B USD. We expect global business travel to surpass that peak in 2011 followed by growth of near 9% in 2012. But not all countries are fairing the same. Some, like many Asian countries are growing very quickly, while Europe is stagnating. And while the US will experience decent growth rates over the coming years, Asia is propelling the world’s growth in business travel spending. From a business travel perspective, the US and the rest of the world remain on dramatically different growth trajectories. This situation will not change anytime soon as China and other Asian markets add business travel spending at about 4 times the rate of the US In fact, we expect the Chinese market to surpass the US in size and world share by as early as 2015. The US share of global business travel is on a collision course with China. In part a reflection of the relative …
REDMOND, Wash., March 24 –Concur (NASDAQ: CNQR), the world’s leading provider of on-demand Employee Spend Management services, today announced the availability of Concur® Mobile, the powerful extension to Concurs innovative end-to-end approach for travel and expense management. Now mobile workers can ease the pain of business travel during their trip by using their Blackberry or Windows Mobile phone to manage their itinerary, conduct in-policy business travel transactions, capture T&E expense data and approve expense reports all while on the road. Concur Mobile enables travelers to quickly view their itinerary and add or delete items such as hotels, rental cars, dining reservations and taxis. The solution also lets business travelers quickly and easily capture miscellaneous out-of-pocket purchases and tips, ensuring that these commonly forgotten transactions are automatically and accurately accounted for within the expense report. Busy managers can even review their employees expense reports in detail, right from their hand-held device, allowing them to approve or reject expense reports quickly, no matter where they are.