For every dollar a company spends on business travel, the return on investment (ROI) brings $20 in additional profits, according to a research report from American Express Global Business Travel.
Called Return on Investment Refresh: Travel as a Competitive Advantage, the study explores the link between travel and business growth. The research analyzed business travel spending from a sampling of nearly 900 public companies over the past decade of economic cycles.
According to the research, U.S. industries could reach optimal revenue potential by increasing travel spending to just over 4 percent, an amount that translates to about $70 per worker.
The study also concludes that industry sectors such as business services, sports and entertainment typically already operate under optimal levels, while finance, pharmaceutical and retail companies could benefit from business travel spending growth.