Global business travel costs moderating in 2024
Latest research from CWT and GBTA reveals that while costs will continue to rise, the pace of these increases will be notably slower through 2024 and into 2025
The 2025 Global Business Travel Forecast, published today by CWT, the business travel and meetings specialist, and the Global Business Travel Association (GBTA), the world’s largest business travel trade organization, reveals that while costs will continue to rise, the pace of these increases will be notably slower through 2024 and into 2025.
Key takeaways
- Businesses can expect to navigate a more predictable pricing environment through 2024 and 2025, allowing for better budget planning and cost management;
- The research shows that while a more stable period for travel costs is likely, businesses should remain vigilant to evolving pricing dynamics influenced by global trends;
- The global average daily room rate (ADR) rose +3.9% in 2023 to $158, after a +30% rise in 2022. LATAM saw the biggest pricing gains in 2023, with the ADR increasing +10.7% to $93. APAC was not far behind, recording an ADR increase of +7.4% to $131.
Get the full story at GBTA