Business travelers are very important to the continued profitability of the Airline Industry, and the growth of Business Travel will spur the forecasted expansion of the Airlines and the continuing need for new pilots. Business travel finished 2011 with stronger growth than expected and the industry will see steady expansion in 2012 that is greater than anticipated GDP growth, according to the latest Business Travel Quarterly Outlook. The Global Business Travel Association (GBTA), producer of the Quarterly Outlook reported that despite the uncertainties in the global economy, the business travel environment will remain healthy going forward.
2011 closes with what turned out to be a stronger year than expected for business travel. Person-Trip volume is up 3.1 percent in 2011 Q3 while total business travel spending is up 8.3 percent for the quarter. Total Person-Trip volume will hit 446.5 million and total spending on business travel will reach $251.9 billion in 2011, up 2.1 percent and 7.6 percent respectively.
2012 will continue to see more measured growth as economic headwinds persist. GBTA forecasts that business travel spend will increase by 4.6 percent in 2012 on a slight (0.8%) decline in person-trips.
“Although the economic recovery is still modest, we see business travel remaining healthy and growing at a steady rate that outpaces GDP growth,” said Michael W. McCormick, GBTA executive director and COO. “We’d like to see these record corporate profits trickle down through the rest of the economy, but because business travel drives corporate growth, we should expect road warriors to remain busy in 2012.”