NEW YORK & ALEXANDRIA, Va.--(BUSINESS WIRE)--New research conducted by American Express Global Business Travel and the GBTA Foundation (Global Business Travel Association) benchmarks the travel spending businesses require to help support their growth. It further explores the change in this suggested optimal spending level depending on the economic conditions and business characteristics, including industry. The study suggests that travel can be an overlooked means to gain competitive advantage, and those companies that regard travel expenditures as indirect costs to be minimized cut into a key established expansion driver.
This new study, Return on Investment Refresh: Travel as a Competitive Advantage, is the continuation of research initiated in 2009 which first explored the link between travel and business growth. This latest research offers further evidence of travel's compelling link to corporate growth, and through benchmarking data provides guidance to businesses on the ideal level of travel spending needed to drive revenue in both expansionary and recessionary periods. Additionally it identifies industries in which the optimal level has likely been reached and industries where opportunities remain to reach their potential.