Join The Discussion

 

Super PAC Men: How political consultants took a Fort Worth oilman on a wild ride

The head of a Texas oil dynasty joined the parade of wealthy political donors, aiming to flip the Senate to Republicans. By the time consultants were done with him, the war chest was drained and fraud allegations were flying

read more >

Bon Appétit: New French restaurant dishes out the finest in Fort Worth

Barely open six months, Le Cep, a contemporary French restaurant proffering fine dining, is stirring up Fort Worth’s culinary scene.

read more >

Bridge collapse on I-35 north of Austin

SALADO, Texas (AP) — Emergency crews are responding to a reported bridge collapse along an interstate in Central Texas.

read more >

Latin-inspired restaurant set to open in downtown Fort Worth

Downtown Fort Worth’s dining scene is about to get spicier with the opening of a new restaurant featuring Latin-inspired coastal cuisine.

read more >

Amazon begins Prime Now program in Dallas area

If you just have to have it now, as in one hour, you can, at least in the Dallas area, as Amazon.com Inc. announced Thursday it will offer Prime Now.

read more >

 

U.S. business travel continues upswing report says

 

Signs of a healthier domestic economy, including steady job gains and higher consumer confidence, are encouraging companies to increase their investment in domestic travel, according to a recent report from the Global Business Travel Association.
The quarterly report, GBTA BTI Outlook-United States 2013 Q2, predicts that domestic business travel spending should continue to climb through 2013.


Business travel spending is now expected to reach $273.3 billion – an upgrade from last quarter’s forecast of $268.5 billion for the year, and a 4.3 percent increase over 2012.


“With the U.S. economy moving into a more stable growth mode, companies are seizing on opportunities closer to home,” said Michael W. McCormick, GBTA executive director and chief operations officer. “The rise in domestic business travel spending is a positive sign of increasing business confidence and bodes well for future employment growth.”


The GBTA report finds that solid growth in travel spending is not being driven by rising prices alone. “Real” travel spending growth per trip (the increase after accounting for travel price inflation) is projected to hit 1.3 percent this year, compared with 0.3 percent in 2012.
Sponsored by Visa Inc., the GBTA report is a proprietary index of business travel activity. The report includes key buy-side metrics such as total business travel volume and spending, plus supply-side projections of changes in costs, across both transient and meetings travel.


“It’s encouraging to see the return and increase of domestic business travel,” said Tad Fordyce, head of Global Commercial Solutions at Visa Inc. “These increases are positive reinforcements that travelers are regaining confidence in our own economy and re-investing in the growth of their businesses. We hope to see these increases have a ripple effect on international travel in key markets in the coming future.”


The report, the 12th in a series, also showed steady growth in both group travel spending and global business travel spending.
International outbound business travel spending is expected to grow by 3 percent in 2013 to $33.1 billion – a slight decline from last quarter’s projection of $33.3 billion. This is due in part to a softening in the economies of key U.S. export markets, including China and the Euro-zone.


Group travel spending should also continue to grow in 2013, rising by 5.3 percent to $117.1 billion. However, GBTA expects group travel volume to fall slightly by 0.3 percent in 2013 to 166 million person-trips, driven by some continued corporate constraints on meetings activity.

bdillard@bizpress.net

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?