Pack your bags. As more U.S. businesses look to new markets for growth, more companies will be taking to the air to discover these new outlets. The Global Business Travel Association’s (GBTA) outlook for business travel in 2013 predicts a 4.6% increase in U.S business travel spending. The forecast also calls for a slight decrease —a little more than a 1% — in the number of trips taken. This suggests a higher average cost per trip than the previous 12 months.
Manila, Philippines is one of the fastest-
growing business-class destinations
Photo: Brian Sytnyk
The GBTA estimates that for every $1 spent on corporate travel, companies see an average of $20 in additional profits. This is not news for companies that consider travel an essential part of their business growth strategy. But where do you go to receive those returns?
Looking at Fare Buzz bookings in the period from 2009 to 2012, a number of countries are seeing strong business-class bookings. The United Kingdom remains one of the top business destinations, with the flow of travelers there staying fairly constant. Another popular business destination is Switzerland. Over the last four years, Switzerland has held onto its position as one of the top 10 business destinations.
One Asian destination seeing huge growth in business class travel is the Philippines, with more than 200% growth in the past four years. According to Philippines news outlet ABS CBN News.com, Manila ranks 3rd in the world top BPO (business processing outsourcing) destinations, and has bumped Delhi, India, to 4th spot.
Among other notable travel trends this year, companies are also asking their employees to do more when traveling. Instead of making several trips in one month, itineraries are being constructed with several short legs for meetings in multiple cities.
Tom Ciccone is the Director of Corporate Services for Fare Buzz, a leading travel consolidator specializing in corporate travel.