Even with the outbreak of COVID-19, business travel remains an important aspect of growing your business. It also allows new opportunities and outlooks for those that do the traveling.
Let’s take a look at some business travelers stats to see their effect on the business world.
General Business Travelers Stats and Facts
- Every year there are 445 million business trips.
- Every day, in the United States, there are 1.3 million trips related to business taken. (Global Business Travel Association)
- Business travelers aged 18 to 29 make up about 16% of all business trips.
- About 10% of business-related trips are considered “bleisure” trips and are used for a little rest and relaxation as well as business.
- 83% of business travelers see business travel as a positive experience. About 79% of those business travelers traveling, say that it improves their overall job satisfaction.
- When it comes to the benefits of business travel for a company it’s no question that it can help the growth of an overall company. Of corporate travel, managers polled 90.6% believed this to be true as well as 91.3% of business travelers.
- Due to the frequent travel done by business travelers, they have some expectations, these are the factors that they look for and the percentage that take these factors into consideration:
- 44% quality
- 40% convenience
- 38% trustworthiness
- 30% quietness
- 28% affordability
- 28% comfort
Business Travel Industry Statistics
- In 2018, there were over 463 million trips taken inside the US by US travelers.
- Business travel is becoming more and more popular, however, even with its rise, only 60% of businesses have some sort of corporate travel policy.
- There are a series of metrics for measuring to ensure business travelers keep coming back: policy compliance, saving, expenditures, and traveler satisfaction.
- According to 79% of business travel managers, it’s important to partner with some sort of travel management. It helps the budget and expenditures of a particular company by leading to efficiency and savings.
- Many initiatives by the travel industry are based on what the business travelers are longing for. About 55% of travelers were looking for an improvement in more accurate and up-to-date notifications. Also, 53% mentioned automatic flight rebooking as an important factor.
Business Travelers Demographics Statistics
- The vast majority of those traveling for work are men. According to the BOT (Bureau of Transportation), men make up 77% of those people traveling for work.
- Frequent travelers are interested in more expedited processes and one way we see that is in personal data. About one-fifth of frequent travelers (22%) want their personal data to be remembered by the travel companies they travel through.
- This is also a factor for expediting their process at the airport and about 65% are happy to give additional information as long as it speeds up their processing.
- A personalized experience is also worth taking the time to share travel preferences, and 9 out of 10 business travelers will do so.
Business Travelers Expenses Statistics
- In 2017, according to global business travel statistics, $1.33 trillion was spent worldwide on business travel.
- Even with the COVID pandemic, the price of travel costs from 2021 to 2022 was expected to rise to $1.7 trillion.
- Business travelers may only make up 12% of total flight tickets in a given year, however, compared to non-business customers they can help to generate nearly twice as much per person for airlines.
- Many business travelers (55%) are willing to spend their own money for upgrades when it comes to flight seating, car rentals, and hotel accommodations.
- For every dollar spent a company will, on average, see a $9.50 rise in revenue and an increase in profit at $2.90.
Business Travelers Destinations Statistics
- The most popular region in America for business trips is the American West. Every year, it has a whopping 7.5 million more people coming in than it does for individuals leaving the region for travel.
- The American South sees 7.7 million more people leaving their region than entering for travel.
- For business travel, the most expensive Asian city is Hong Kong, which will end up costing you about $515 a day on average.
Business Travel Trends
- A lot of millennials see business travel as an opportunity to see and experience new places so nearly 55% will normally prolong their trip so that they can take advantage of what their business destination may offer.
- Nearly 40% of millennials travel for business.
- In planning for future trips, about 67% of today’s travelers turn to brands to help them to make better decisions from previous information.
What percentage of travelers travel for business?
About 12% of flight tickets are business-related, and 30% of travel spending comes from business-related travel.
How often do business travelers travel?
It differs in age range but the average is about 6.8 times a year that a business traveler takes a business trip. When it comes to millennials, they average a bit more at 7.4 trips a year.
How long do business travelers work?
Although this depends on the actual distance of the trip, it can last anywhere from one week to two weeks. On average, an international business trip is 5.82 days but has decreased from 6.31 days.
Business travel is a big financial factor for the travel industry.
It not only helps the businesses to grow, but it also allows the economies in destinations to benefit, according to business travelers statistics.