News & Events
Business Travel Contributed $27.3 Billion in Economic Impact to the Canadian Economy in 2013
April 21st, 2015 |
A recent GBTA Foundation study conducted by Rockport Analytics and sponsored by Intercontinental Hotels Group (IHG) highlights the key economic contribution business travel activity made to the Canadian economy in 2013. In total, $23.5 billion ($ CAD) was spent on business travel over the period including $15.8 on domestic travel, $3.9 on international travel and $3.8 on the operation of meetings & events. This activity led to a total of $27.3 billion CAD in value added, supported 434,000 jobs in an array of industry sectors and generated a total of $8.6 billion in federal, provincial and local tax revenue. Learn more.
US Business Travel Industry Poised to Build on 2014 Gains
January 20th, 2015 |
Rockport Analytics quarterly analysis of the U.S. business travel market – GBTA BTI™ Outlook – United States 2014 Q4, commissioned by the GBTA Foundation and sponsored by Visa, forecasts spending on U.S.-generated business travel will rise 6.2% to $310 billion in 2015. Growth will primarily be driven by domestic business travel as the US economic recovery continues to gain steam. Spending on international outbound business travel from the US is also expected to see gains in 2015, although downside risks remain in key global economies in Europe, Asia and Latin America. Business travelers will benefit from slowing price growth as plummeting oil prices will help to curb travel price inflation to 2.6% through 2015. Learn more.
Global Business Travel Spending to expand 6.9% in 2014 to $1.18 Trillion USD
July 28th, 2014 |
Global business travel spending is expected to reach a record $1.18 trillion in 2014, according to a study released by the Global Business Travel Association. The forecast, conducted by Rockport Analytics, projects 6.9% annual growth this year, and global spending is expected to grow by a higher rate in 2015. Growth was 4.5% in 2013 and 3.2% in 2012. China’s business-travel market has grown quickly during the past decade, and expected to surpass the U.S. as the largest market by 2016, the report said, even though business-travel spending growth is expected to slow in China over the next five years. The Asia Pacific region, which includes China, comprises 38% of global business travel, and totaled $392B in 2013. Learn more.
Moderate Increases in Travel Prices Expected for 2015
June 12th, 2014 |
Moderate increases expected air, hotel and ground transportation prices next year, according to the results of a price forecast conducted by Rockport Analytics. The study, commissioned by Carlson Wagonlit Travel (CWT) and the Global Business Travel Association (GBTA), analyzed historic price transactions and their correlation with key economic drivers along with key supply-side metrics. With rising demand, favorable cost structures and slowly expanding capacity, airfares are expected to rise gradually through 2015, by as much as 2.2 percent, although low-cost carriers are limiting price increases in some regions. Hotel suppliers will be in a better negotiating position than they have been for some time in 2015, due in part to stronger demand and investor interest, and favorable capital costs. This improved outlook could lead to greater pressure on negotiated rates for travel managers and buyers, and globally, prices are expected to rise by as much as 2.6 percent. In contrast to the air and hotel sectors, the ground transportation industry has an abundance of supply. With industry consolidation and strong competition, global prices are expected to remain flat throughout 2015. Learn More.
Trade Show Has Significant Impact on International Visitation to the U.S.
February 5th, 2014 |
A recent study conducted by Rockport Analytics finds that the 2013 IPW trade show and international marketplace, which was hosted in Las Vegas, NV, will lead to 8.8 million international visitors to the U.S. over the next three years. These visitors will spend an estimated $28 billion in spending on goods and services in the U.S. market leading to a direct economic impact of $16 billion. IPW is the U.S. Travel Association’s annual event and the travel industry’s premier international marketplace, bringing travel buyers and suppliers together for three days of intensive pre-scheduled business appointments. These appointments lead to direct booking of international visitors into destinations across the U.S. Additionally, the show creates an enormous impact on the future visitation of the event’s host city. As a result of hosting IPW in 2013, Las Vegas will receive an estimated lift in international visitation of over 1 million passengers over the next three years. These visitors will spend an estimated $1.6 on goods and services, and a direct economic impact to the Las Vegas economy of $891 million. Learn more.
Tourism Brings $7.7 Billion in Economic Impact to the State of Indiana in 2012
December 20th, 2013 |
A recent report published by the Indiana Office of Tourism Development (IOTD) highlights the significant impact that tourism had on the Hoosier State in 2012. Research conducted by Rockport Analytics estimates that visitors spent $10.1 billion on goods and services in the Indiana economy in 2012; $7.7 billion of which was retained in the bottom line of Gross State Profit (GSP). These figures represent roughly a 5% increase in tourism activity over 2011 and can partially be attributed to the Indianapolis hosting of Super Bowl XLVI. In 2012, Indiana Tourism, the 7th largest industry in the state, supported 186,000 jobs, paid $4.8 billion in wages and contributed $1.2 billion in local and state tax revenue. Learn more.
European Business Travel to Remain Flat in 2013 but Poised for a Turnaround in 2014
September 27th, 2013 |
The GBTA Foundation recently released it biannual report on European business travel. The analysis, conducted by Rockport Analytics and sponsored by Visa, points to a projected decline of 0.1% in 2013 business travel spend among the five major European economies – Germany, France, the UK, Italy and Spain. We expect a significant bounce back in 2014, however, with projected growth of 3.4% to $183 billion USD in business travel spending among the five nations. Business travel growth continues to reflect two different speeds – with the northern economies of Germany and the UK showing much healthier performance compared to the economically-troubled markets in Southern Europe. Learn more.
Brazilian Business Travel Looks to Regain Double-Digit Growth
September 13th, 2013 |
A new study conducted by Rockport Analytics the GBTA BTI – Brazil 2013 H2™, sponsored by Visa, points to a slight downgrade in Brazilian business travel expectations compared with our report released in early 2013. Despite the downgrade, spending on Brazilian business travel will grow 6.3% in 2013 – significantly higher than growth expectations in the developed world. Spending growth will get back on track in 2014, advancing 12.6% to $35.8 billion USD, as both the global economy and domestic demand improve. Learn more.
Government Meetings & Events Make a Significant Contribution to the U.S. Economy
August 2nd, 2013 |
A recent study conducted by Rockport Analytics and commissioned by the U.S. Travel Association shows that government meetings and events support the effectiveness of government, greater productivity in the private sector, and the well-being of U.S. citizens. The research was conducted in three phases and included surveys of government workers and private sector executives, an economic impact study and two in-depth case studies focusing on events that have been recently impacted by the scrutiny over government travel expenditures for meetings and events. Some key findings from the research:
- Employees attending government meetings and conferences spent an average of $185 per day in 2011, significantly less than the $224 per day spent by private sector meeting attendees.
- Likewise, spending on government meetings and conference operations was significantly lower than that of the private sector – $173 per delegate, per day on average compared to $339 for the private sector.
- Among the private sector executives we surveyed, a majority (62%) report that spending on meetings and conferences where government employees were present had a positive return, while very few (12%) felt the return on investment was negative.
- Government travel for meetings and conferences had a total economic impact of $24.4 billion in 2011. Additionally, each government-meeting delegate generated roughly $174 in tax receipts, $78 of which went to state and local authorities.
Spending on U.S. Business Travel Continues to Advance
July 17th, 2013 |
Rockport Analytics quarterly analysis of the U.S. business travel market – GBTA BTI™ Outlook – United States 2013 Q2, commissioned by the GBTA Foundation and sponsored by Visa, forecasts spending on U.S.-generated business travel will rise 4.3% to $273 billion in 2013. This growth is mainly driven by domestic business travel, which has remained surprisingly resilient in the face of slow economic growth and slowing growth in corporate profits. International outbound business (IOB) travel continues to under-perform, as our 2013 IOB spending forecast has been downgraded to $33.1 billion from a projected $33.3 billion in April, due to weaker economies in both Europe and China. Learn more.