Biz Travel: It's Worth It!

February 22 2011 by Chris McGinnis

chart.jpgThe link between the investments you make in people or equipment and the expansion of your business is pretty clear. But have you ever wondered about the return you get on your company's investment in travel?

New research conducted by American Express and the Global Business Travel Association (GBTA) suggests that increased investment in travel might be a way to gain competitive advantage.

The study found that the average return on investment to business travel spending is about 20-to-1, meaning that for every $1 strategically invested in business travel, businesses have seen an average of $20 in additional gross profit.

The study suggests that the dramatic cutbacks made to travel budgets during the late, great recession might have been too deep. As a result, the deep cuts in travel spending may have hampered the recovery of some businesses, and the economy overall.

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