Thursday, June 6, 2024 The latest study by the Global Business Travel Association (GBTA) has highlighted the substantial economic impact of business travel in the United States. The “GBTA U.S.
Economic Impact Study: Business Travel’s Impact on Jobs and the U.S. Economy” reveals that business travel was a key driver of economic health in 2022, the most recent full year with complete data.
This sector accounted for 2% of the U.S. GDP and supported 3.
5% of total employment, underscoring its critical role in the nation’s economic landscape. In 2022, the U.S.
led the world in business travel spending, with expenditures totaling $421.1 billion USD. This spending generated $119 billion in tax receipts and supported six million jobs, representing 3.
5% of the total U.S. employment.
The economic benefits of business travel extend beyond immediate expenditures, with every dollar spent on business travel generating $1.15 in net-new gross domestic product (GDP) for the U.S.
economy. The business travel industry supports a wide range of jobs, with the direct employment figures indicating a diverse impact across various sectors. Approximately 38% of the jobs supported by business travel were in food services, 19% in accommodations, and 11% in transportation and warehousing.
This distribution highlights the interconnected nature of business travel with other critical segments of the economy. The study also delves into the characteristics, behaviors, motivations, and spending patterns.
