Business travel industry anticipates strong but challenging 2024

Global industry professionals report strength in business travel numbers, outlook on potential risks ahead, and how travel policies are evolving to meet the needs of a remote / hybrid workforce

The global business travel industry has put the pandemic behind it and is riding a wave of momentum at the start of 2024. A majority of travel buyers report increases in bookings and spending for 2023 and expect this year-over-year growth trend to continue as they also prioritize sustainable travel in their organizations.

Key takeaways

• Nearly 60% of travel buyers expect more travel in the coming year, with two-thirds anticipating increases in business travel spending;
• Industry professionals also expect challenges ahead, however, citing rising travel costs, overall economic uncertainties, lagging corporate budgets and travel disruptions among their top concerns;
• And almost half of travel buyers say the adoption of remote and hybrid workplace models has prompted them to revamp their employee travel policies and programs.

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