2025 GBTA U.S. ROI Study
T&E and the Bottom-Line: Quantifying the Return on Investment of U.S. Business Travel
Published July 2025
Business travel is a driver of growth and business success. Yet, what is the “right” amount of business travel? Underinvesting in business travel can stunt revenue, profits and employee development. This study explores the return on investment (ROI) of business travel in the United States. It addresses key questions including travel and expense (T&E) investment, optimal levels of travel and comparisons across industries.
Key findings from the research include:
- Despite recent increases, real T&E investment is still below the optimal level for maximizing revenue and profits. Across all U.S. industries, the profit-maximizing level of T&E is $319.1 billion, about $24 billion above current levels. Net result: a 14.6x ROI—$14.60 in net operating margin for every $1 invested in business travel.
- On average, just $184 more per employee across all industries in T&E could help firms reach optimal investment levels.
- Industries like Retail/Wholesale and Banking show the largest gaps between current and optimal T&E investment—indicating room for high-impact growth.
NEW/November 2025: GBTA and ASTA also released a companion study featuring analysis of more than 3,200 U.S. firms across 17 industries. This company- and industry-level benchmarking follow-up study shows U.S. companies that take a strategic, well-governed approach to their business travel programs can achieve up to 30% higher revenue than their peers. Read more and download the company benchmarking analysis report here.
Research made possible with the support of the American Society of Travel Advisors
Access Research
To get full access to GBTA research resources and much more, become a member
About GBTA Research
Throughout its 50+ year history, GBTA has been at the forefront of bringing to light key trends and topics shaping the industry, enabling business travel professionals to access timely context, validate their thinking, and confidently move ahead.
From comprehensive reports and forecasts to issues-focused polls, education sessions, webinars, podcasts, and more, our research team is focused on serving GBTA members and the industry at large with answering pressing questions and generating a-ha! moments.
Partner with GBTA
Partner with GBTA for your next research project to leverage our deep industry and research expertise, get access to industry peer insights, and get in front of GBTA’s network of over 99,000 business travel professionals around the world, including influential travel buyers and other industry decision makers.
English 
Spanish 
French 
Portuguese