AMERICAS – The Global Business Travel Association (GBTA) has used its Business Travel Quarterly methodology research to estimate the impact of Hurricane Sandy on the business travel industry at US$606m.
The association says disruptions to business travel can have “wide-ranging repercussions” and estimates that the business travel industry might have lost as many as 514,000 trips and US$606m due to storm-related cancellations due to the havoc made by the Hurricane. It also estimated a total GDP loss at $675m.
GBTA claims the methodology could predict the impact of natural disasters such as hurricanes and storms. Hurricane Sandy has so far cost 170 lives and a predicted insurance bill of $50bn.
The association used the methodology to determine how a theoretical Category Three hurricane on the East Coast would impact the business travel industry. It looks at any significant weather event that leads to widespread shutdowns and cancelled travel plans.
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