Egencia, Expedia Inc’s wholly-owned travel management company, is linking up with two big organisations in the US to produce “the most comprehensive look at the global business travel industry available today”.
Egencia, which is the fifth largest travel management business in the word, has joined forces with US organisation the National Business Travel Association to launch the research, carried out by IHS Global.
Full details will be released in August. Top-line figures unveiled this week indicate where the growth in business travel is likely to come over the next five years.
Rob Greyber, president of Egencia. “Over the next five years, we’ll see countries like India and China grow at rates of 5.3 and 6.5% respectively, versus the US projected growth rate of 0.3%.”
However, the study also looks at how different sectors travel. The education sector is the only one where there will be a growth in travel this year, with a 2.2% increase expected.
The sectors seeing the biggest decline in work-related travel are transportation services, paper and paper products, construction, chemicals, communication equipment, and rubber and plastic manufacturing sectors.
Another sector-specific observation is how much of every sales dollar is spent on travel. The equipment and leasing sector spends 3.7 cents of every dollar on travel. Mining is the most budget-conscious, spending only a fraction of a cent. The average across all businesses is for 1.1 cent of every sales dollar to be spent on travel.