The age-old business trip doesn't look like it's going out of style anytime soon.
Driving the news: Canadians may not be vacationing to the States these days, but business trips appear to be a different story. After falling 10% in February, Canadian business travel to the U.S. last month was nearly on par with 2024 levels, per The Logic.
Big picture: It’s not just travel to the U.S. — the business trip is making a global resurgence. According to new data from Corporate Traveller, business travel to Europe, Asia and within Canada has seen an uptick in recent months.
- Air Canada’s profit forecast for this year surpassed analysts' expectations, thanks, in part, to a surge in business bookings.
Why it matters: Travelling for in-person events and meetings can be pricey, but it's still good business. One report from just before the pandemic found that for every dollar invested in business travel, companies see an average of $9.50 in increased revenue.
Yes, but: Companies might be sending out more troops to close deals and shmooze conferences, but it's not all business class seats and penthouse suits. A Deloitte survey found that half of travel managers are asking workers to book cheaper flights to save cash, while 38% are pushing them to do the same for hotels.—LA