U.S. companies are missing out on more than $2.4 trillion in potential new sales revenue because they may be underinvesting in business travel, according to a new report exploring the return on investment (ROI) of corporate travel. Despite a strong post-pandemic rebound, the study found that real travel and entertainment (T&E) spending in the U.S. remains $66 billion below 2019 levels. The analysis shows that a modest 8.3% increase in T&E could yield a 6% increase in sales – even taking into consideration post-COVID investments in virtual meeting platforms. These are some of the key findings from the report, T&E and the Bottom-Line: Quantifying the Return on Investment of U.S. Business Travel, released today by the Global Business Travel Association (GBTA) and made possible in partnership with the American Society of Travel Advisors (ASTA).
