Travel buyers cite ’24 growth, optimism for ‘25

A new GBTA survey highlights corporate travel's evolution as companies balance growth with cost, economic uncertainty, and tech trends

A recent survey by the Global Business Travel Association (GBTA) highlights the strong recovery of business travel in 2024 and projects further growth in spending and trip volumes for 2025. Conducted in January, the survey gathered insights from 408 travel managers and 368 suppliers and intermediary representatives. The findings indicate that companies across most regions increased their travel activity in 2024, with expectations of continued expansion in the coming year, driven primarily by revenue-generating sales trips. However, concerns over rising costs, economic uncertainty, and evolving technology adoption remain key factors shaping corporate travel decisions.

Key takeaways

• Continued growth in business travel: 48% of travel buyers expect more trips in 2025, while 57% anticipate increased spending on travel. Over 70% of respondents reported increased travel in 2024 compared to 2023;
• Regional variations: North America, Latin America, and Asia-Pacific saw the highest growth in 2024, while Europe lagged, with only 64% reporting increased trip volumes. In 2025, European buyers remain cautious, with only 37% expecting more travel, likely due to sustainability concerns;
• Purpose of travel: Sales-related trips will drive travel volume in 2025, followed closely by internal meetings (21% of total trips). External conferences account for 14%, with training and supplier meetings ranking lower;
• Rising costs and budget constraints: 81% of travel buyers cite increasing travel costs as a major concern, with half worried about budget limitations. Economic uncertainty and geopolitical tensions are also pressing issues;
• Technology and AI adoption: Only 33% of buyers prioritize AI and tech advancements, whereas 47% of suppliers consider them critical. Many travel managers rely on their Travel Management Companies (TMCs) for tech solutions;
• Industry shifts: Nearly 47% of companies are either evaluating or changing their TMC, driven by dissatisfaction with technology and distribution capabilities;
• Sustainability initiatives: Asia-Pacific leads in sustainability plans for 2025, while North America lags in adopting green travel strategies.

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