New research identifies business travel as driver of economic growth
Wednesday, August 12, 2020 - 02:40
in Psychology & Sociology
New research from Harvard's Growth Lab finds a direct link between a country's incoming business travel and the growth of new and existing industries. The findings, published in the journal Nature Human Behaviour, support a Growth Lab hypothesis that moving knowhow, the tacit knowledge accumulated and transferred from brain to brain through a long process of imitation, repetition, and feedback, is critical to economic growth, and business travel plays a key part in that process. The research also raises new concerns about the economic implications of the international travel restrictions imposed to combat COVID-19.