Latest GBTA Industry Poll Reflects Business Travel Rebound in 2023 and Outlook for 2024

Most professionals in global business travel say the sector has reached near-full recovery since the pandemic ─ and their top areas of focus for the year ahead include travel cost management, sustainability, retailing models, and emerging technologies. This is according to the latest GBTA Business Travel Outlook Poll released today which unveils insights from 865 global business travel industry professionals across 46 countries.

Here are some of the key takeaways from the October 2023 GBTA poll:  

• 84% report their company’s business travel in 2023 has largely or mostly recovered compared to 2019.
• Top barriers for business travel in 2023 include corporate budgets keeping up with price increases (69%), inflation/recession concerns (63%), and geo-political events (44%).
• In 2023, buyers report increases in their employees attending in-person meetings and conferences (55%), holding virtual meetings (52%), blending travel (50%) and “linking” (multi-purpose or multi-destination) business trips (49%) versus 2022.
• For 2024, 67% of travel buyers expect their travel budgets to increase (39%) or remain about the same (28%).
• Cost management stands out as a top strategic priority, with 62% of respondents emphasizing its importance for their company’s business travel program.
• 63% plan to ramp up their investment in technology, and 46% feel new industry technologies, such as NDC, will pose the most significant technology challenges. Other areas of investment include sustainability initiatives (45%) and partnerships and alliances (40%).
• The industry remains split on artificial intelligence (AI) for the coming year, with 32% reporting being excited about AI, while another third (33%) feel it's too early to predict its full impact.

“As this latest GBTA poll outlines, ongoing challenges are expected, but there are optimistic indicators for an even stronger year ahead as organizations continue to leverage business travel and face-to-face connections as a critical part of their strategy to achieve important and ambitious objectives,” said Suzanne Neufang, CEO, GBTA.

Read the announcement and access the full poll results here.

Industry Spotlight

GBTA Professional Development
Join the GBTA DEI Community and Shape the Future of Inclusive Travel

Are you deeply passionate about diversity and inclusion? Do you believe that people should be at the center of every decision, especially in an industry built around human connections? If your answer is a resounding "YES," then the GBTA DEI (Diversity, Equity, and Inclusion) Community is looking for you!

We're on a mission to create a travel industry where everyone feels a sense of belonging. To achieve this, we're seeking four dedicated buyers to join our dynamic committee. Here's your chance to collaborate with industry visionaries who share your commitment to making travel more inclusive for all.

If you're ready to be part of this exciting journey, click the link below to apply and help us shape a brighter, more inclusive future for the travel industry.

Join us in championing diversity, equity, and inclusion in travel! Together, we can make a real difference.

GBTA + VDR Europe Conference 2023 - Hamburg
Join the Think Tank Session: Interactive Workshop on Climate Action

Driving sustainability across an ever-growing, ever-changing industry is no small feat. However, it remains incumbent on travel managers, procurement professionals, suppliers, sustainability-focused executives, and conscientious travelers to play our part in reducing emissions and crafting policies to manage our collective environmental footprint more effectively.

Join us in Hamburg for this incredible opportunity to drive change and shape the future of sustainable travel. Register now to secure your spot and be part of this essential conversation.

Resources

Crisis24 Intelligence Brief

Israel and Palestinian Territories - Cross-border violence likely to escalate as Israel expands ground operations in Gaza Strip and launches 'second stage' of war as of Oct. 28.

Japan - Flight diversions affecting Fukuoka International Airport (FUK), Japan, after runway closes due to bird strike Oct. 30. Confirm flights.

Mexico - Severe weather forecast across much of Mexico through at least Oct. 30. Possible flooding and associated disruptions.

Russia - Officials confirm Makhachkala airport in Dagestan, Russia, to remain closed until 02:59 Oct. 31 following protests.

More Information