The Association of Corporate Travel Executives (ACTE) is to monitor the correlation between corporate travel spend and booking trends with the global economy.
The organisation said the new ACTE Index would paint the industry a more accurate picture of how the growth or shrinkage of business travel impacts economic prosperity.
Every month 200 ACTE members - both buyers and suppliers - will provide travel spend and booking data while the index will monitor the performance of each companies share price on the various stock markets around the world.
Ron DiLeo, ACTE's executive director, said the tying travel data to regional economic indicators would help establish predictive economic KPIs (key performance indicators) and behavioural trends.
The companies surveyed will come from across a range of industries, and they will be categorised depending on the size of their travel spend.
The findings are to be published on a monthly basis.