Morningstar expects corporate travel to recover at slower pace
Led by leisure, overall travel demand has remained resilient, supporting our long-held view that there is an ingrained human desire to travel
But the analyst is less sanguine on near-term corporate travel after United Airlines CEO Scott Kirby said earlier this month that the United States is currently in a business recession, with COO Andrew Nocella adding that business travel demand has leveled off for the company.
Key takeaways
- The risk of softer economic growth during the next year remains as numerous nontravel consumer-related companies point to strained demand;
- The analyst still expects sales growth across our travel universe in 2023 and 2024 and don’t see an economic recession as likely.
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