Business travel is growing. Can speaking opportunities be far behind?
The Global Business Travel Association (GBTA) reports that business travel is growing despite economic setbacks. Additionally, GBTA predicts that the U.S. will not enter a double-dip recession.
The report, Business Travel Quarterly Outlook – United States shares that U.S. business travel spending was up 6.3 percent from the second quarter of 2010, reached $62.2 billion in Q2 of 2011.
GBTA continues with a prediction that that business travel spending for the year will grow 6.9 percent.
One of the measures GBTA used in making this prediction was the Business Travel Index (BTI). BTI measures current and projected business travel. The index has suffered in recent years. In 2007 it stood at 120. Last year it was 108. It rebounded in Q1 of 2011, obtaining the level of 112. This report predicts a return to a level of 120 in Q2 of 2012.
See the accompanying metrics graphs for a visual display of these numbers.
In explaining the report in a GBTA press release, GBTA Executive Director and COO Michael W. McCormick stated the following.
“…business travel spend levels tell us the recovery should continue ascompanies invest in driving future growth. Now is the time when companies will absolutely call upontheir strategic travel programs to help offset rising costs and keep travelers doing business.”
Business travel abroad was the strongest segment, estimated to finish 2011 at $31.8 billion. That number is up 9.1 percent from 2010.
Spending on group travel also was predicted to increase 6.8 percent from 2010. It is projected to reach $107.2 billion in 2011.
“Corporate and management confidence remains high, which is why we’re still seeing companiesput employees on the road,” McCormick continued. “We think there is good reason to maintain measuredoptimism about the growth of the economy.”
This report is, of courses, good news for professional speakers, trainers, and other presenters who travel to conferences and business events to deliver their presentations. As a number of reports, including Meetings matter and should be encouraged, Meetings recovering. IMEX survey shows optimism, Good riddance to 2009. Appreciate 2009 have demonstrated, professional speaking opportunities have been more difficult to obtain in the past few difficult years.
Writing as an Examiner who is also a professional speaker, and as one who knows many speakers who have scrambled over the past few years to make a living, the death of business meetings is, hopefully, about to change.