12 Jul 2017 Travel Forecast — Clear Skies Ahead!
We’ve made it through over half of the year, folks! While we can’t truthfully say that 2017’s right around the corner, it will be here before you know it.
We’re not quite ready to release our yearly Travel Trends round up, like this 2015 one that made its viral appearance a while back. However, we’re totally prepared to sum up some key economic takeaways so that you can have a clearer picture of your future in 2017. You know, the fun stuff! Before the dawn of this year, GBTA published a report, claiming that “economic uncertainty would slow growth,” even though our year was projected to bring in 500 million business trips. The same report paints a more glowing picture of the year ahead.
Once we have a few stressful events behind us, like the US presidential election and the UK’s decision to leave the EU, 2017 could show the industry what it means to adjust to change. “Thankfully, a much brighter 2017 appears to be on the horizon,” says GBTA COO Michael McCormick.
McCormick expects U.S. business travel spend to increase 3.2 percent year over year in 2016, followed by a 3.5 percent increase in 2017. But price, not increased travel volume, will be the main reason the hotel business will see stronger profits.
Did you hear that part about the prices? Watch out for hotels charging you more next year. There’s no such thing as being overprepared for trends that affect your bottom line. Find a good travel manager who advocates for you and fights for your policies and pricing, and 2017 will be smooth sailing.Plans customized for you