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 October 29, 2012 - Hurricane Sandy
is threatening the East Coast with
forecasters calling the twin threat of winter storm fronts and
hurricane
conditions a "Frankenstorm." Heavy rain, extreme tides, high winds
and possible snow are expected to barrel north Sunday, peaking Tuesday
and
linger through Halloween. Global Business Travel Association (GBTA)
research
can provide a picture of what the impact a storm of this magnitude
could have
on business travel.
GBTA recently quantified the impact of major weather events on business travel. The research used GBTA's Business Travel Quarterly (BTQ) methodology to determine how a theoretical Category-3 hurricane on the East Coast would impact the business travel industry, and the results can be applied to any significant weather event that leads to widespread shutdowns and canceled travel plans, such as Hurricane Sandy. Disruptions in business travel can have wide-ranging repercussions. In the GBTA model, business travel could lose as much as 514,000 trips and $606 million in spending due to storm related cancellations. The report also predicts that:
The eleven East Coast states in the path of the scenario storm could suffer an average business travel spending loss as high as $58 million per day. The full report is available to media upon request. About the Global Business Travel Association The Global Business Travel Association (GBTA) is the world's premier business travel and meetings organization. Collectively, GBTA's 5,000-plus members manage over $340 billion of global business travel and meetings expenditures annually. GBTA provides its network of 21,000 business and government travel and meetings managers, as well as travel service providers, with networking events, news, education & professional development, research, and advocacy. For more information, visit gbta.org. |
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