US corporate travel market continues its post-recession recovery.
The global economy had some hiccups in early 2016, and uncertainty made a comeback, but, US indicators remain mixed, and with unemployment at an eight-year low and overseas travel more attractive due to the US currency's strength, the travel industry remains optimistic.
The corporate travel market has seen steady growth in the past few years as companies opened up their purse strings and sent their travelers back on the road.
A new report from travel industry research authority, Phocuswright, U.S. Corporate Travel: Market Sizing and Trends, sizes the total corporate travel market in the U.S. including forecasts through 2017 and trends that influence it.
The U.S. corporate travel market is expected to continue to grow at a moderate pace through 2017.
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Mobile devices are largely used to search for travel components. More than half (55%) of managed travelers searched for airfares and 44% for hotels on their smartphones.
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The shift from mobile as a novelty to mobile as a necessity has changed the business travel market in a few short years. As a result, enhancing mobile capabilities is the biggest technological priority for travel managers.
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"Despite recent economic headwinds, corporate travel in the U.S. will continue to grow through 2017," says Phocuswright's director, research, Charuta Fadnis.
"The rise comes against a backdrop of technological innovation and changing consumer behavior, both of which have transformed business travel. Mobile is a prime example. Its high penetration among travelers places it at the top of travel managers' as well as travel companies' priorities."
Phocuswright's U.S. Corporate Travel: Market Sizing and Trends is an essential resource and analysis for corporate travel buyers and suppliers.
ABOUT PHOCUSWRIGHT INC.
Phocuswright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, Phocuswright fosters smart strategic planning, tactical decision-making and organizational effectiveness.
Phocuswright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use Phocuswright research for competitive advantage.
To complement its primary research in North and Latin America, Europe and Asia, Phocuswright produces several high-profile conferences in the United States and Europe, and partners with conferences in China, Singapore and the United Arab Emirates. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.
The company is headquartered in the United States with Asia Pacific operations based in India and local analysts on five continents.
Phocuswright is a wholly-owned subsidiary of Northstar Travel Media, LLC. (116 32nd Street, 14th Floor, New York, NY 10001 United States). www.phocuswright.com
ABOUT NORTHSTAR TRAVEL GROUP
Northstar Travel Group is the leading provider of business-to-business news, information, data, transactions and custom content solutions for the travel, meetings and hospitality industries. Brands under the Northstar umbrella include Travel Weekly, Travel Weekly China, Travel Weekly Asia, TravelAge West, Business Travel News, Phocuswright, Meetings & Conventions, M&C China, Web in Travel and Inntopia. Northstar is the industry leader in marketing solutions, custom content communications, content licensing and database management serving the travel and meetings industries. The company produces more than 52 face-to-face events, taking place in North and South America, Europe, Asia and the Middle East. Northstar is based in Secaucus, NJ, and is a portfolio company of EagleTree Capital. www.northstartravelgroup.com
