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Study Examines Business Travel’s Bottom Line

Businesses declare almost nine in 10 corporate meetings fruitful, according to a recent study by CWT Solutions Group. About 88 percent of the 10,000 travelers surveyed deemed a return on investment for their business trips.

Respondents marked 9.5 percent of trips as “average,” with “no significant benefit compared to cost,” and 2.5 percent as “unsatisfactory.”

Research showed that the success of the trips were often determined by the number of meetings that took place, the time spent in meetings and how far in advance the trip was planned. A trip with only one meeting produced as unsuccessful result 19 percent of the time, while each additional meeting reduced the likelihood of an unsuccessful trip by about 10 percent.

Other results indicated that when the cumulative meeting time stayed below an hour, the probability of an unsuccessful trip is 28 percent. Respondents who booked a trip less than three days in advanced proved 21 percent more likely to be unsuccessful, compared to the 11 percent risk for those who booked more than two weeks in advance.

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