At a time when many professionals are being urged to reduce travel expenses, new research suggests there could be a link between corporate travel and profitability, Reuters reports.
The US study, which was commissioned by the National Business Travel Association and American Express Business Travel, considered data over a 10-year period across 15 industries.
While findings varied across industries, researchers found an incremental 1 per cent increase or decrease in travel spending resulted in a corresponding 1.7 per cent rise or drop in sales.
In addition, it's claimed economy-wide corporate profits could be maximised at a point where business travel spending is increased by 5.3 percent.
Comments