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Research Outline

Prepared for Dan P. | Delivered March 8, 2020

Global Corporate Travel

Goals

To determine the number of business trips that Fortune 1000 companies make while having an employee count of 33.9 million.

Early Findings

  • Fortune 1000 companies seemingly spend $1.25 trillion on business travel annually and they are being targeted by the likes of FlitWays with its offering of an Enterprise-level booking suite.
  • In 2015, the number of domestic and overseas business trips was expected to reach 490.4 million in the U.S.
  • Business trips were also expected to contribute $310 billion in the same year.
  •  77% of the business travelers are males with majority working in a tech or managerial position.
  •  Majority of the trips are less than 1000 miles but those that are in fact long distance trips typically require employees to travel 250 miles or fewer.
  • Average businesses that don't travel in their first year, forfeit 17% in profits.
  • The number of business trips in the U.S. were expected to increase to 502.8 million in 2016. 
  •  Fortune 1000 companies are also using Airbnb for their business travel, one of them being Google.
  • Amazon business trips that required air travel amounted to "$220 million in flights in 2017" and it is one of the leading companies that purchase corporate air travel.
  • The total number of business trips done annually is 445 million and this amounts to an industry valued at $251 billion.
  • On average, companies spend $949 per person for domestic business trips and $2,600 per person for international business trips.
  • Overall, the domestic business travel amounts to $111.7 billion while the international business travel amounts to $31.6 billion.