According to several global business travel research agencies, the outlook on business travel for 2012 is various. Some, like GBTA--Global Business Travel Association, agree that travel spending is wrapping up a good comeback year, and that 2012 will herald an even better year for business travel
. Others like American Express Global Business Travel Global Advisory Services, feel the economy is still ambiguous, although the last six months statistics in travel have shown an increase from last year by 6.9%, and is projected to rise above 4% in 2012. Despite the mixed views, here is why most research companies feel the outlook on corporate travel
for 2012 remains high. Outlook For International Travel
People need products such as cars, cell phones, toys, etc., and since most corporations have overseas companies--especially in the manufacturing sector, not traveling is not an option.
Egenica, the fifth largest travel management company, agrees with other forecasts that Europe and Asia will see an increase from 4-6% based on average ticket prices. They also project that, based on common business travel destinations such as Brazil, Russia, India, and China, air tickets will be kept high--the law of supply and demand. To maximize savings, travel agencies are advising business travelers going to Europe to:
Outlook For Domestic Travel
- book at least 22 days ahead of their expected travel date to save up to 51%
- pre-trip approval that can save up to 49%
Although the U.S. economy is expected to grow by 2%, much of the forecast for domestic travel is dismal. According to JP Morgan analysts for the airlines, states that they expect domestic business travel to be down by 1% in 2012. However, if companies do the proper research, and are willing to sacrifice certain amenities such as high prices hotels, first class airfare, and other high end luxuries, traveling for business in the U.S. can even be up in 2012. More Mobile
With the continued advances in cell phone capabilities, business travelers are still finding travel less stressful because they can plan trips, track airline flights, get up to date travel alerts, and even use their phone as a boarding pass. The less stress a business person has to deal with, the more pleasant their flight will become.
The weatherman can't always predict the weather, and research facilities can't always see the future for traveling domestically and abroad, but after compiling factors such as past and current statistics and economic factors, several travel research agencies have given the forecast of business travel, and it is expected to continually rise.