Traveling for business is a necessary part of the global economy. Companies often need to send their employees around the world to attend conferences, close deals, and explore potential opportunities in different markets. In today’s competitive landscape, it’s important for companies to stay on top of what’s happening in the industry, as well as be able to meet face-to-face with potential clients or partners.
Business travel has seen a significant increase over the past decade due to a growing number of international business partnerships and opportunities. In fact, according to a report from Global Business Travel Association (GBTA), the number of business trips taken around the world has grown by approximately 8% since 2009. This growth is expected to continue in the coming years as more businesses take advantage of international opportunities.
In addition to an increase in business travel, companies are also taking advantage of technology advancements that help them stay connected while on the go. This includes tools such as video conferencing, cloud storage platforms, and mobile applications that allow employees to remain productive while away from their office. These tools have helped make it easier for companies to conduct business remotely, which can greatly reduce travel costs while still allowing them to expand their operations internationally.
Despite these advancements in technology, many businesses still rely heavily on face-to-face meetings and conferences when conducting business outside their home country. This is especially true for large multinational corporations that need to build relationships with people in different countries or regions around the world. For these types of organizations, business travel can account for a significant percentage of their overall budget.
So what percentage of total travel is actually used for business? According to GBTA’s report, an estimated 25% of all trips taken in 2018 were categorized as “business trips” – meaning they were conducted for work-related reasons such as attending conferences or meeting clients/partners/vendors. This figure does not include leisure trips taken by employees on behalf of their employers (such as company retreats).
Overall, it is clear that business travel plays an important role in today’s global economy and is expected to continue increasing over the next few years due to advancements in technology and increased demand for international partnerships and opportunities.
Conclusion: What Percentage Of Travel Is Business? An estimated 25% of all trips taken globally are classified as ‘business trips’ – meaning they are conducted for work-related activities such as attending conferences or meeting clients/partners/vendors abroad.