Mishaps. Annoyances. Inconveniences. Setbacks. Complications. Glitches. Hiccups. Whatever you call them, they cause travelers a lot of headaches, and also cost them a lot of money, according to the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA), which yesterday published the results of a new study on the impacts of business-travel disruptions, such as delayed flights, cancelled flights, and missed connections.
Titled "Business Traveler Study 2014: The Cost of Mishaps," the study is based on a survey of more than 500 business travelers who had traveled and experienced at least one travel mishap while on a business trip in the past year. Its findings: A business-travel mishap costs a traveler an average of $1,457 in missed work and out-of-pocket expenses, and an average of 2.3 work days lost.
"Travel-related issues, including delays, cancelations, and evacuations, are an unfortunate aspect of business travel," GBTA Vice President of Research Joseph Bates said in a statement. "By understanding the biggest woes, travel managers can take steps to identify and mitigate some of the frustration, lost time, and added cost involved."
The most impactful business-travel mishaps are air-travel mishaps. Reported by 87 percent of survey respondents, they take an average of nearly 11 hours to resolve and cost $1,154 in missed work and out-of-pocket expenses. Other common mishaps include lost items (26 percent), evacuations and early returns (24 percent), medical mishaps (24 percent), car-related mishaps (21 percent), and hotel rebookings (17 percent).
A separate GBTA Foundation study published in February found that 75 percent of business travelers had at least one travel mishap over the past year.