Business travel is the practice of people traveling for purposes related to their work. It is on the rise especially with foreign business markets opening up. 432 million business trips were completed by United States residents in 2009, this accounted for approximately $215 billion dollars towards the economy.
Many airlines began to concentrate on providing premium service on long haul flights especially for the first and business class business traveler with the development of more sophisticated business traveler needs over the last 15 years.
American Airlines was the first airline to offer a frequent flier program to customers. The AAdvantage program began in May 1981 and included Hertz car rental and Hyatt hotel. The first hotel to start an independent hotel program was Holiday Inn; they began in January 1983. National Car Rental was the first car rental company to introduce a program back in March 1987. Airlines have also been working on tools that benefit the business travellers such as: Improved and competitive mileage programs, quick check in and online check in, lounges with broadband connection, etc. Hotels are not far behind. They are also on the competition for the business travellers by offering flexible points programs, broadband connection in all rooms and fast check in and check out services.
While internet booking engines have become the first destination for around 60% of leisure travelers, business travelers, especially with the need for itineraries that may include more than one destination, have still found that a knowledgeable travel agent may be their best resource for better ticket pricing, less hassle and better air and land travel planning. For larger business travel accounts these travel agents take on a travel management role, and are referred to as Travel Management Companies (TMCs), providing services such as consultancy, traveller tracking, data and negotiation assistance and policy advice.
Recent trends in this market have extended to the implementation of Self Booking Tools (SBTs) which allow automated booking of trips within company policy, an increase in the inclusion of Duty of care practices in the booking and monitoring process and more consideration for the environmental impact of business travel.
Top three expense categories for business travel:
- Airline expenses
- Hotel expenses
- Food and beverage expenses
Famous quotes containing the words business and/or trip:
“All our lives we fought against exalting the individual, against the elevation of the single person, and long ago we were over and done with the business of a hero, and here it comes up again: the glorification of one personality. This is not good at all. I am just like everybody else.”
—Vladimir Ilyich Lenin (1870–1924)
“[A trip to France] will make you adore your own country, it’s soil, it’s climate, it’s equality, liberty, laws, people and manners. My God! How little do my countrymen know what precious blessings they are in possession of, and which no other people on earth enjoy.”
—Thomas Jefferson (1743–1826)