STUDY: EVERY $1 SPENT ON BUSINESS TRAVEL RETURNS $1.15 TO U.S. ECONOMY

THE BUSINESS TRAVEL resurgence in the U.S. significantly impacted the economy in 2022, with every $1 spent returning $1.15 to the U.S. GDP, according to
the Global Business Travel Association. The industry also contributed $484 billion to the U.S. GDP in the same year and the association forecasts a further
increase in business travel spending for 2024.

The study, titled “GBTA U.S. Economic Impact Study: Business Travel’s Impact on Jobs and the U.S. Economy,” revealed that for every 1 percent growth in business
travel, the U.S. economy gains nearly 60,000 jobs, $2.9 billion in wages, $1.2 billion in tax revenue and $4.8 billion in new GDP.

“The data shows that business travel is a substantial contributor to the health of the U.S. economy, and therefore also a key driver for the global economy,”
said Suzanne Neufang, GBTA’s CEO. “Business travel supports millions of jobs and delivers billions in tax revenue, which is why it is important for policymakers
to consider the impact on the industry when devising economic policies – and for sustainable solutions to be prioritized, funded and developed to help us abate
travel’s hardest-to-abate sectors.”