Earlier in the year, planning professionals stated they expected an increase in the number of business meetings in 2012, but that they would be shorter, smaller and closer to home. Companies were keen to avoid the perception of excessive spending on events, and many were following the pharmaceutical industry’s lead by incorporating a code of compliance that limits the use of five-star properties in addition to those with certain resort-type amenities like golf course and spas.
So it’s interesting to read an article in Forbes the other day titled about companies slowly resuming retreats and conventions in luxury resort locations. The article also reinforces earlier predictions that group business travel is finally on the rebound, with travel spending up nearly 8 percent in 2011 and rising even more in 2012.
What do you think? Does a recent upswing in business travel to destinations like Las Vegas and others associated with “fun” indicate a sure sign of corporate travel’s comeback?