Global spending is expected to make it fully back to the $1.4 trillion dollar mark in mid-2026, according to the 2022 GBTA Business Travel Index Outlook. This adds an estimated 18 months to the industry’s recovery than was previously predicted.
According to Expedia Group’s Q2 2022 Traveler Insights Report, hotel and flight demand stayed strong and long-haul destinations (more than a four-hour flight) are making a comeback.
When it comes to business travel programs, ground transportation, sustainability, and bleisure travel are some of the considerations that should be looked at, according to a study by GBTA and Uber for Business.
New concerns about gas prices and inflation are impacting travel plans more than concerns about COVID-19, according to a survey commissioned by the American Hotel & Lodging Association.
Total spend value for U.S. business travel processed via TripActions Liquid grew 114% from January 2022 through March 2022, while March 2022 saw a 1,681% YoY increase in spend.
Business travel is still nowhere near its pre-pandemic levels, but transaction recovery in the last week of February 2022 hit 51% of 2019 levels, a 23-point improvement from mid-January 2022.
Because fewer employees have been traveling during the pandemic, companies have gotten used to saving money on travel. Employees are now encouraged to bundle visits to multiple clients or events into a single trip.
Expedia Group’s research surveys asked travelers what they value most as operators prepare for increased bookings.
According to the American Hotel & Lodging Association’s survey, 69% of leisure travelers and 67% of business travelers plan to take fewer trips.
The business travel industry continues to report an overall optimism about the return to business travel, but the rise of the Delta variant and other variants has caused uncertainty and increased concern over the past month, according to a recent GBTA poll.
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