Business Travel — a Boom Market

The world-wide business travel market is enormous. In 1989, it accounted for 750m trips (one or more nights away from home) with an estimated value in excess of $320 billion. This growth is forecast to continue — it is estimated that a $400 billion market will exist by the 1990s. In the UK alone, it is estimated that 1990 will see over £22 billion being spent on business travel and entertainment (T & E) — four times the total advertising expenditure; three times the annual spend on rates and twice the revenue paid in corporation tax.