The corporate travel industry is made up of travel services geared toward those traveling for business purposes. Such travel services may include transportation (such as airlines, automobiles, boats, trains, etc.), hotel/motel lodgings, as well as stipends for any food and beverage needs. Many businesses have separate accounts specifically for corporate travel necessities. The majority of corporate travel remains male-dominated, and most of the corporate travel that takes place is domestic rather than overseas. For those that engage in corporate travel internationally, extending the stay for leisure purposes after business has been completed, or having family or friend accompany them, is becoming commonplace.
Large companies that employ frequent travelers, or road warriors, will often have their own corporate travel departments. Many companies will contract with travel agencies that have corporate travel specialists.
Car travel continues to be the most predominant form of transportation for business travel, but airplanes are also typical. Most corporate travelers that use airlines as transportation fly in standard or economy class, though a small amount are able to travel in business or first class – types of air travel accommodations are dependent upon a company’s travel account budget, and at times the amount of air miles accrued by the passenger. Most of the corporate travel that takes place in modern times is booked via online services. Corporations have found this avenue of reserving airfares and accommodations through these services creates more efficiency for their companies.
Demand is this industry is reliant upon business spending accounts, which are dependent upon the profitability of various companies, which is driven by the overall state of the economy.
Large companies that employ frequent travelers, or road warriors, will often have their own corporate travel departments. Many companies will contract with travel agencies that have corporate travel specialists.
Car travel continues to be the most predominant form of transportation for business travel, but airplanes are also typical. Most corporate travelers that use airlines as transportation fly in standard or economy class, though a small amount are able to travel in business or first class – types of air travel accommodations are dependent upon a company’s travel account budget, and at times the amount of air miles accrued by the passenger. Most of the corporate travel that takes place in modern times is booked via online services. Corporations have found this avenue of reserving airfares and accommodations through these services creates more efficiency for their companies.
Demand is this industry is reliant upon business spending accounts, which are dependent upon the profitability of various companies, which is driven by the overall state of the economy.
