Definitely.
You might not miss long flights and funky hotel bathrooms, but researchers say there’s good reason to stockpile travel-size shampoo: Biz travel boosts international economies.
A Harvard study found that when business travelers visit other countries, they share “knowhow” — intangible expertise that grows alongside other people.
Let’s say the US attracts a lot of business travelers from Germany, an auto-industry heavyweight. The study says it’s likely that the US car industry will grow, too.
And location is important: Countries that are close to knowhow-rich nations see big benefits.
The researchers estimate the economies of Austria, Switzerland, Ireland, and Denmark are ⅓ bigger than they would be without the imported knowhow.
Stop traveling, and we’ll stop the flow of knowhow.
Global GDP would drop by ~1% if the US (one of the biggest knowhow exporters) stopped business travel.
A permanent shutdown, the researchers predict, would drive a double-digit loss.
So it’s just like that old kids’ song: The more we get together, the happier we’ll be.