Are company paid business trips an investment in the future, or just money down the economic drain? Though many organizations write these trips off as regular expenses, a recent report from the World Travel and Tourism Council (WTTC) shows evidence that they can be much more. Their research reveals that in-person business trips are actually important investments in the growth of individual businesses, and the global economy as a whole. For example, the report shows that if worldwide business travel were to be cut by 25% for two consecutive years, global GDP would fall 5%, with a resulting loss of 30 million jobs worldwide! The WTTC report, Business Travel – A Catalyst for Economic Performance, also shows that such trips can be very profitable. The report found that travel for business purposes can yield a return on investment of ten to one (or as much as twelve to one in the US). That means a $10,000 return on a $1,000 expense!
So before you decide to cut the budget on your business travel account, check out some more facts from this info graphic below on business travel and remember, big travel can equal big business! If you are traveling, you skip luggage shipping and use Bags VIP Luggage Delivery services to help you make travel easier. Bags VIP agents will retrieve your checked luggage and deliver it to a destination of your choice, freeing you to make the most of your trip.