New Analysis Links Business Travel To Post-Recession Recovery For Many U.S. Companies
"Meetings can't just be a feel good thing anymore," said Larry Luteran, senior vice president group sales and industry relations of Hilton Worldwide. "Businesses are increasingly measuring ROI based on intricate, predetermined metrics – and are laser focused on content and deliverables going into each meeting."
About Travel Effect
Travel Effect is a campaign of the U.S. Travel Association , the national, non-profit organization representing all components of the travel industry that generates $2 trillion in economic output and supports 14.6 million jobs. U.S. Travel's mission is to increase travel to and within the United States. For more information and a copy of the full report, visit www.traveleffect.com.
Survey MethodologyOxford Economics developed an econometric model to determine both the strength and direction of the relationship between domestic business travel and industry performance over time. The original model was built in 2009. It was updated for this analysis based on 2012 U.S. government data on business travel and its impact on productivity and company profits, as well as U.S. Travel Association's Travel Economic Impact Model (TEIM), which determined the direct, indirect and induced impacts of business travel. The new model provides detail on business travel and performance across 14 industries over an 18-year period. In parallel to the statistical analysis, a survey of frequent domestic business travelers (who took at least four trips per year) was conducted online during the ten-day period November 20-29, 2012. The survey of 298 respondents was fielded through GMI (Global Market InSite) of Bellevue, WA, and is projectable to the total population of frequent U.S. business travelers with a margin of error of +/-5.7 pts. and a 95% confidence level. SOURCE U.S. Travel Association
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