Thinking About a Career in Travel or Hospitality? Good News
Data shows the travel industry is recovering nicely after the recession
After the recession forced cutbacks to travel expenses, a new report says Canadian businesses are spending money to travel again.
A study released by the Association of Corporate Travel Executives (ACTE) and The Conference Board of Canada Travel says that 2010′s sales numbers are better than expected, while forecasting a strong 2011.
“While survey results from the same time last year were pessimistic, there is now an upbeat attitude in the industry as fears of a further reduction in business travel volumes in 2010 did not materialize,” said Monica Hailstone, Regional Director, Canada, ACTE.
The report, titled Canadian Business Travel Outlook, saw half of the 56 organizations polled responding that they saw increased spending in 2010, particularly on domestic flights and hotels, with 89% of respondants saying they expect the same amount, or more traveling in 2011.
“We are feeling this renewed confidence across the industry,” said Hailstone. “This is not only good news for the Canadian economy but the global economy as well.”
The report also forecasts that business travel should increase by 5%. While flights will be the biggest expenditure, hotel and car rental spending should increase by just under 2%.