On the road again: The ever-rising costs and troubles of business travel infographic and statistics

ON THE ROAD AGAIN: The Ever-Rising Cost & Troubles of Business Travel The recession and advancements in telecommuting technology have teamed up to put a dent in business travel, but the numbers are rising again, making business travel a multi-billion dollar industry in the U.S. Percentage of 16% business trips that include a plane ride (2003). $233 billion Direct spending in 2010 on business travel by domestic and international travelers, including expenditures on meetings, events incentive programs. TOTAL U.S.AIRCRAFT DEPARTURES 10,842,368 10,842,368 10,307,025 9,859,941 9,731,131 9,671,776 9,512,017 9,444,234 8,929,559 8,605,486 8,585,736 8,548,932 8,248,269 8,204,674 8,095,888 8,052,756 8,030,530 9,859,941 8,929,559 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TRAVEL SPENDING BY U.S. COMPANIES IN 2009 $92 billion $12.50 $3.80 : Business travel spending devoted to : meetings, events and incentive programs Increased revenue for invested in $1 New profits connected to in business travel $1 business travel SOURCES OF TRAVEL SPENDING FOODSERVICES $188.7 billion PUBLIC TRANSPORTATION $140.0 billion LODGING $136.3 billion AUTO TRANSPORTATION $129.0 billion RECREATION/AMUSEMENT $83.4 billion RETAIL $81.4 billion TOTAL: $758.7 billion The average price for an airline ticket rose by 30% between 1996 and 2011 (through the third quarter using inflation-adjusted dollars). Person-trips for 35% meetings and 448/million events Person-trips* for business in 2010 by U.S. residents If other prices had kept to that trend, a gallon of gas would be only 81% Percentage of long distance trips $1.59 (more than 50 miles but a postage , stamp would cost from home) using personal vehicle 90 cents TOP BUSINESS TRAVELER SPENDERS, BY INDUSTRY (2008) $60 billion $48 billion $157 billion $31 billion $18 billion MANUFACTURING BUSINESS SERVICES TOTAL EDUCATION, HEALTH CARE FINANCE, INSURANCE, REAL ESTATE $144,000 ПI 28% Annual savings for a mid-sized company asking Current business of travel meetings 40% to video conferencing employees 10 lost if in-person meetings to convert were eliminated READY TO FLY • Pack smart. • Noise-canceling headphones Layer items in suitcase. Keep liquids and toiletries in outside pocket for easy access. • Jacket or sportcoat; but be sure to take it off before you get to airport security • Boarding pass saved on cellphone or PDA for scanning at gate and security • Light-weight sweater or blazer for layering clothing • Belt without metal buckle • 3-1-1 bag: Toiletry or liquid bottles of 3 ounces or less; a single 1 quart zip-top bag • Cellphone battery extender • Pants pockets emptied • Slip-on shoes in hand • No checked luggage • Avoid heels, at least while in the airport TYPICAL Average age 38 Preferred tech Apple (and other new stuff) Average trip cost BUSINESS TRAVELER $1,837 * Person-trip defined as one person away from home overnight in paid accommodations or on a day or overnight trip more than 50 miles away from home (one-way). College-71% educated 59% Male Trip length on average On tight 46% budget BOLT 4 days INSURANCE AGENCY www.BoltInsurance.com SOURCES hotelnewsresource.com - insidecounsel.com- thepeoplehistory.com U.S. Travel Association - Bureau of Transportation Statistics - Oxford Economics USA - Transportation Security Administration businesstravelconnexion.com