Last Updated : 10/15/2024
Global Business Travel Industry Spending Expected to Hit Record $1.48 Trillion in 2024.
July 22,2024
Boosted by economic stability, pent-up demand and recovery momentum, spending is projected to surpass $2 trillion by 2028 according to the latest GBTA Business Travel Index Report
The business travel industry has proven itself resilient as it leaves the global pandemic behind and moves into a new era of post-pandemic stabilization. The forecast for 2024 predicts global business travel spending will reach $1.48 trillion USD by the end of the year, an increase on 2019 spending which was a previous record at $1.43 trillion. Additionally, by 2028, it is projected to exceed $2.0 trillion, highlighting a robust path ahead for the business travel sector in terms of spending.
Relative stability in the global economy has continued to drive growth which, along with lingering pent-up demand, has provided reassurance for CEOs and CFOs to get their people back on the road for business meetings. Many top business travel markets around the world have returned to or are nearing pre-pandemic levels, reinforcing the momentum of the recovery and boosting spending. However, the outlook for economic and business travel growth presents a balance of both potential upside factors and downside risks.
Continue reading the GBTA article here.
More GBTA page web page is Here
According The World Travel & Tourism Council (WTTC) on 9th...
Alaska, Hawaiian Proposed Merger Clears U.S. DOJ Review Continue reading...
EU airports told to restore 100ml hand luggage rule Continue...
United announced on 13th that set a new standard of inflight connectivity by signing the...
According The World Travel & Tourism Council (WTTC) on 9th April 2024 launched its 2024...
EU airports told to restore 100ml hand luggage rule Continue reading the BTN Business Travel...
What kind of procedures do you and your employees follow when making reservations for airline tickets and hotels for business trips?
DetailsAfter experiencing the unprecedented pandemic caused by the new coronavirus, there is an increased focus on risk management. We propose “risk management” solutions for the purpose of the safety and health of business travelers.
DetailsMore urgent business trip, more cost than necessary! According to our analysis, the largest expense within the total corporate travel costs is the airfare, accounting for nearly half. Additionally, affordable flight tickets and hotels may not always represent the optimal conditions.
DetailsIn today’s business environment, it is common for companies to spread out all over the world and conduct global business activities. Among them, Business Travel Management (BTM) focuses on the proper planning and management of frequent and business-related travel by corporate employees and executives.
Details
