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Study reveals 2014 business travel spending projections

Business man traveling

More business travelers plan to hit the road in 2014, according to a study by the Global Business Travel Association (GBTA). After surveying more than 250 business travel professionals, the organization predicts a 7.2 percent rise in business travel spending in 2014, amounting to $288 billion.

Respondents said they expected spending increases due to both price increases and more booked trips. GBTA estimates the business trip volume, which fell this year, should grow 1.6 percent in 2014 to 459.2 million.

Best Western Small Business Travel Survey also released a similarly optimistic travel forecast. Their research found that 89 percent of 400 U.S. small business owners have planned as many or more trips this fall than last year.

The survey also projected that 53 percent of the owners plan to mix business with pleasure by bringing a family member. About 46 percent also said they are likely to pay out of pocket to extend a business trip for some leisure time.

For more information, read the CNBC article.