The data used for this study was collected in a large-scale business traveler survey conducted by CWT between May and October 2014.
Understanding the value of business travel and its ROI is of primary interest to the travel industry. But estimating the ROI for a given business trip is a challenging task. For the investment part of ROI, the productivity loss generated by travel stress must be considered along with the actual expenses. For the return part things are less clear when it comes to quantifying a trip’s value or understanding what makes a trip succeed or fail. This research addresses these challenges.
The paper is structured as follows:
- Section 3 highlights the main purpose of travel, the outcomes travelers expect from their business trips and meetings, and the reasons why positive results are occasionally not achieved.
- Section 4 presents a first measure of the value of a business trip, and a classification of business trips is introduced based on this measure. The research shows that most business trips are successful and that low-outcome trips are typically the exception, not the rule.
- Section 5 is dedicated to analyzing the drivers and patterns of failure for business trips. These insights will serve to better recognize, anticipate and ultimately prevent unsuccessful trips in order to improve the overall ROI of business travel.
- Section 6 gives a summary and conclusions of this study.
Read The Value of Business Travel paper.