Industry Research

LCT Fact Book Serves As Limo Business Planning Tool

Posted on May 1, 2014 by Sara Eastwood-McLean - Also by this author

Page 1 of 2

f is for factoid, and you'll find plenty of them in the 2014-2015 LCT Fact Book and Industry Guide available starting today.
f is for factoid, and you'll find plenty of them in the 2014-2015 LCT Fact Book and Industry Guide available starting today.

In the May 2014 issue, which is your bible for business planning, we publish a comprehensive panorama of facts and figures to help you see the landscape ahead more clearly. Success is no accident! It takes planning and strategy, so please review this material carefully and email us ( if you’d like to discuss any information we’ve presented here.

Business Travel Landscape
In the past year, the fastest-growing premium travel markets were within and connected to Africa, South America, the Middle East and Asia, according to the International Air Transport Association. The organization says this reflects the strength of the economic expansion in these regions and the structural development of new South-South trade lanes, as business travel follows the direct investment flows that have happened in recent years.

The Global Business Travel Association expects business travel spend to increase this year by 6.6%, compared to 2013. To put this in perspective, from 2011-2012 spend increased by 1.6%. Then, in 2012-2013, spend went up by 4.6%. So another sizable increase is something to welcome with open arms!

Group Travel Accelerates in 2014
The meetings business has been on an upward swing for the past two years and this trend should continue in 2014. GBTA expects group travel spending to rise by 6.5% to $124.5 billion based on a volume increase of 1.7%.

“This is the healthiest growth outlook for meetings activity since 2011,” said Michael McCormick, GBTA executive director and COO. “Meetings are typically larger investments that require advance planning, and companies only make these decisions when they have confidence in the longer-term outlook for the economy.”

The corporate travel market is bracing for consolidation in ground transportation companies which they believe will drive chauffeured car service up. With the merger of BostonCoach and Dav El Chauffeured Transportation Network in March, it’s not a matter of if, but when. They are publicly announcing an aggressive acquisition plan forthcoming.
Service reviews will play a key role in travel negotiations. One in two business travelers already post reviews online. These reviews will hold more sway in the business travel program with the adoption of new corporate review sites.

View comments or post a comment on this story. (0 Comments)

More News

How One Travel Manager Thinks About Business Travel

Customer needs have evolved with technology while safety and duty of care have become bigger issues in the last few years.

What's On The Must-Have List For Younger Travelers?

The line between business and leisure travel is blurrier than ever for Millennials.

Global Business Travel Likely To Advance Despite Uncertainty

Many signs show the global economy is improving. Total spending worldwide approached $1.3 trillion in 2016.

Stronger Economy Means Higher Travel Pricing In 2018

GBTA Convention Coverage: Air, hotel, and ground transportation rise on back of inflation, higher oil prices, and emerging markets.

Business Travel Spurs $547 Billion In GDP, 7.4 Million Jobs

GBTA Convention Coverage: Much of the industry's economy heft accrues directly to sectors that serve travelers.

See More News

Facebook Comments ()

Comments (0)

Post a Comment



See More

LCT Store

LCT Magazine - September 2017 $12.95 MOTORCOACH / BUS ISSUE COVER STORY: * Irizar Racks Up A Good Rookie Year * *


Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment


Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close