While today's technology offers plenty of communication tools that allow business operations to occur without leaving one’s desk, nothing enhances employee productivity and business relationships like face-to-face meetings.
Chicago, IL (PRWEB) January 22, 2013
Business travel and meeting budgets are often the first to go when finances get tight. However, Executive Travel Directors (ETD) finds that the benefits of business travel outweigh the initial costs for a few key reasons.
1. Boosted Profit And Business Relationships
While today's technology offers plenty of communication tools that allow business operations to occur without leaving one’s desk, nothing enhances employee productivity and business relationships like face-to-face meetings. Stepping out of the office and traveling to meet in person drives sales and stabilizes long-term business relations and partnerships.
2. Significant ROI
A study published by the Global Business Travel Association (GBTA) notes that the average return on investment for business travel is sizeable as it leads to increased sales. GBTA research shows that for every $1 spent on corporate traveling expenses, businesses can make back $15 in profit.
3. More Jobs
ETD alone provides independently contracted staff to approximately 5,000 programs annually. These meetings, corporate incentive programs, and medical training conferences can use up to 300 staff at each event. As a result, a lot of work is created for a large number of people. According to the GBTA, the use of business travel could ideally create 5.1 million new jobs across the entire business travel and meeting planning industry.
4. Stimulated Economy
Not only does an increase in jobs stimulate the economy in general, but bringing a concentrated number of business patriots to one area for a corporate program is beneficial for the local economy as well. Millions of dollars can easily be spent on transportation, dining, recreation, and activities over the course of a few days.