Recent headwinds are pushing recovery of global business travel
spending into 2026 – nearly two years later than predicted last
The outlook comes from the Global Business Travel Association in its
2022 GBTA Business Travel Index, released today at the GBTA Convention
in San Diego.
Last fall GBTA said spending would surge this year and return to 2019 levels of US$1.4 trillion in 2024.
Now the association says that while many Covid-related conditions
have improved, macroeconomic woes including inflation, high energy
prices, supply chain challenges and labor shortages are impacting the
“timing, trajectory and pace of business travel’s recovery, both
globally and by regions.”
“To understand the headwinds that have been impacting a more
accelerated recovery for global business travel, all you have to do is
look at the news headlines since the beginning of 2022.
The factors impacting many industries around the world are also
anticipated to impact global business travel recovery into 2025. The
forecasted result is we’ll get close, but we won’t reach and exceed
2019’s pre-pandemic levels until 2026,” says Suzanne Neufang, CEO of
Total spending on business travel globally was $697 billion in 2021,
5.5% above the pandemic-era low in 2020. By 2025 GBTA estimates it will
reach US$1.39 trillion – nearly the level of 2019 – and reach US$1.47
trillion in mid-2026.