The ash cloud created by Iceland’s volcano eruption cost the global economy $5 billion, said Adrian Cooper of Oxford Economics at the World Travel and Tourism Council Conference in China.
Mr Cooper said up to 80% of all leisure and corporate travel flights were grounded during the airspace shutdown, causing immeasurable inconvenience to leisure and business travellers all over the world.
The ash cloud caused mass disruption to the corporate travel industry with many business travel flights and meetings incentives conferences exhibitions around the globe directly affected.
Business travel clients of the world’s third largest corporate travel management company, BCD Travel, were kept informed throughout the crisis via email, phone, the internet and text message.