Business Travel Continues Bouncing Back with a Strong Outlook for 2023

In the results released today of GBTA’s latest Business Travel Recovery Poll – the 29th in the association’s ongoing survey series – global industry responses reflect that bookings and spending continue to recover, international travel is closing the gap on domestic travel, and economic concerns have risen above COVID-19 concerns, even as higher expectations prevail for business travel for 2023.

“We continue to see progress as business travel makes its way back to being a $1.4 trillion global industry, pre-pandemic. Even as this latest poll shows economic considerations have eclipsed COVID-19 concerns, the industry is showing positive indicators and sentiment for 2023, a strong sign as business travel continues to come back over time,” said Suzanne Neufang, CEO, GBTA.

Here are some of the key takeaways from the October GBTA Poll: 

• Domestic travel volume is back to 63% and international travel is back to 50% of 2019 pre-pandemic levels, while 26% of buyers estimate their international business travel volume has recovered to more than 70% of pre-pandemic levels
• 78% of travel managers expect the number of employee trips at their company will be higher in 2023
• 85% of suppliers expect corporate bookings volume to be higher in 2023
• 65% of buyers expect more company internal and external business travel
• 75% say their companies are not currently planning to limit business travel due to economic concerns
• When asked what primary factors are more likely to limit business travel in 2023, 80% of travel suppliers cite economic concerns while only 4% cite COVID-19
• For companies that allow hybrid or remote working, 44% allow employees to work for extended periods outside the city, state, or province where they are based, and 22% of those even allow employees to work outside their home-base country

View the complete October 2022 GBTA Business Travel Recovery Poll results and key highlights, as well as the full series of GBTA recovery polls.

Industry Spotlight

GBTA Foundation
GBTA Foundation’s Website Is Live!

Helping the global business travel industry create a positive impact and a better future for people and the planet is the mission behind the newly relaunched GBTA Foundation.

The GBTA Foundation will catalyze support for climate action, emerging industry leaders, women’s empowerment, and diversity, equity, and inclusion.

Existing GBTA programs already working towards these goals will now be managed under the Foundation, including our Sustainability initiative, WINiT and Ladders. You can Learn More About our Programs here.

Leaders from across the global travel industry with distinct interests and strengths in key ESG (environmental, social and governance) areas will serve as the Board of Directors for the Foundation. You can Meet our Board here.

For more information about the GBTA Foundation, visit the website or email sustainability@gbta.org.

PATA - GBTA APAC Travel Summit

December 8, 2022 – December 9, 2022

The Future is – Sustainable, Regenerative and Blended Travel In Partnership with GBTA and PATA

With a theme of “Defining a Responsible, Sustainable Future for Business, Tourism and MICE,” this educational and tradeshow event will focus on the challenges and solutions for CO2 emissions, destination sustainability options, and procurement-oriented approaches in the context of the global and Asia-Pacific region’s pandemic recovery. Learn about:

Blended Travel

With the rise in work from anywhere and the flexibility that brings, there is a renewed interest in blending business and leisure travel and activities. Furthermore, today’s travelers are thinking more about how they spend their time at home and on the road, and their impacts they have on their environment and local communities. Explore the impacts of this shift in mindset and the potential positive effect that travel can have on a local ecosystem.

Resources

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