Key Points
- Global business travel spending is expected to hit a record $1.57 trillion by the end of 2025, according to GBTA.
- Much of the growth is due to increased spending per trip, with average costs rising by about a third, driven by inflation and more international travel.
- The U.S. and China are projected to lead in spending, while sectors like services have surpassed pre-pandemic levels but manufacturing faces risks from trade disputes.
Summary
According to the Global Business Travel Association’s latest report, global business travel spending is forecast to reach a record $1.57 trillion by 2025, with much of the growth attributed to higher spending per trip rather than more travelers. While the U.S. and China are set to lead in spending, the service industries have rebounded above pre-pandemic levels, but manufacturing remains vulnerable to trade tensions. Despite positive growth, inflation-adjusted spending still lags behind 2019 figures, and global economic uncertainties continue to shape the business travel landscape.
