Global business travel industry sees rebound in 2023

Latest GBTA Business Travel Outlook Poll reveals positive recovery sentiment, emerging forecasts, industry priorities and potential barriers for the year ahead

The majority of professionals in the global business travel industry say the sector has reached near-full recovery this year since the pandemic days of 2019. But even as business travel has rebounded, the industry is looking ahead at key areas poised for change and impact in 2024, with an emphasis around travel cost management strategies, sustainability, the transformation of retailing models, and the integration of emerging technologies.

Key takeaways

• This overall figure was slightly higher in Europe at 87%, with 42% saying their business travel had “mostly” recovered and 45% stating that it had “largely or fully” recovered;
• The level of domestic bookings in Europe was still only at 70% compared with 2019 – lower than all other regions. While international bookings for the continent were at 69% over the same timescale;
• Globally, the main barriers to business travel this year have been keeping up with price increases (69%), inflation and recession concerns (63%) and geopolitical events (44%).

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