As the travel industry recovers, leisure is on track to see 2019 levels by 2023, while business spending lags behind. Here’s a look at overall trends and the shifting international inbound profile.
Businesses have shown a willingness to get back on the road, but business travel’s growth is expected to decline due to high inflation and a looming recession.
Over three-fourths (78%) of travel managers expect the number of business trips taken by employees at their company will be higher or much higher in 2023 versus 2022, according to a recent poll by the GBTA.
A GBTA survey found that member companies worldwide report an emerging willingness to permit employees to engage in domestic business travel, though members continue to report virtually no willingness for employees to travel internationally.
The former CEO of the Global Business Travel Association leaves his post after an investigation into professional work conduct allegations against him.
According to a Global Business Travel Association poll, half (49%) of companies plan to resume domestic travel in one to three months and 22% plan to resume all travel in the next one to three months.
While inter-city bookings have suffered, intra-city car rentals have remained stable, as many are choosing to rent cars in lieu of using public transportation.
Business travel to Asia has been impacted the hardest, with at least three of every four companies reporting they have canceled or suspended “all” or “most” business trips to China (95%), Hong Kong (87%), Taiwan (79%) and other Asia-Pacific countries
The survey found most business travelers (81%) engage in some form of "bleisure" travel, including incorporating leisure activities into business travel (61%), extending business travel into leisure trips (41%) and booking a vacation around a business trip (33%).
The coveted award for the best technological travel innovation was presented to the Managing Director of Sixt U.K., Per Vögerl.
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