GBTA Quantifies Impact of Hurricane Sandy on Business Travel

As the East Coast braced for Hurricane Sandy's arrival yesterday, the travel industry began tabulating potential losses. Leading the calculations was the Global Business Travel Association (GBTA), which recently developed a model for quantifying the impact of major weather events on business travel.

Using that model — which can be applied to any significant weather event that leads to widespread shutdowns and cancelled travel plans — GBTA predicts that business travel could lose as much as 514,000 trips and $606 million in spending due to Sandy-related cancellations.

In addition, GBTA asserted, interrupted business trips could result in a total GDP loss of about $675 million and a total of $176 million in lost federal, state and local tax revenue.

All told, GBTA said, the 11 East Coast states in Sandy's path could suffer an average business travel spending loss as high as $58 million per day.

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