Unveiling the 2025 GBTA BTI™

Global Business Travel Spending to Reach $1.57 Trillion in 2025 Amid Trade Policy Uncertainty and Economic Risk

Global business travel spending is projected to reach a new historical high of $1.57 trillion USD in 2025. This represents a moderate year-over-year growth rate of 6.6%, as global spending is expected to slow this year due to trade tensions, policy uncertainty and economic pressures. A rebound to 8.1% growth is projected for 2026, while long-term forecasts remain clouded by geopolitical and economic volatility.

Despite near-term challenges, global spending is projected to surpass $2 trillion by 2029 ─ one year later than anticipated a year ago ─ driven by structural shifts in trade, investment, and corporate travel behavior.

This is according to the latest edition of the GBTA Business Travel Index (“BTI”) Outlook – Annual Global Report & Forecast, released yesterday at the GBTA Convention in Denver.

The GBTA BTI™ report is a comprehensive five-year forecast on business travel spending covering 72 countries and 44 industries and includes insights from 7,300+ global business travelers. In its 17th edition and made possible in partnership with Visa, this latest forecast reflects a continued recovery in nominal terms but signals growing headwinds from global trade tensions and economic uncertainty.

“Trade policy uncertainty, inflationary pressures, and shifting global supply chains are reshaping how and where companies travel. This latest forecast reflects the resiliency of business travel and our industry as well as the acknowledgment of the risks ahead,” said Suzanne Neufang, CEO of GBTA.

In 2025, the top 15 markets for spending are anticipated to represent $1.31 trillion. The U.S. ($395.4 billion) is projected to reclaim the top spot this year followed by China ($373.1 billion, which led the list in 2024 and 2023), Germany, Japan, and the UK.

A global survey of over 7,300 business travelers across 33 countries reveals continued evolution and confidence in the value of traveling for work. Business travel is seen as valuable—86% rate their trips as worthwhile. Average trip spending rose to $1,128 USD (up from $834 in the 2024 survey). Corporate card access rose to 69% and mobile wallet use is also up, with 64% adoption globally.

Read the full launch announcement and download the 2025 GBTA BTI report Executive Summary here. GBTA members can exclusively access the full GBTA BTI™ report on the GBTA Hub here.

Watch the 2025 GBTA BTI Forecast launch video featuring Suzanne Neufang, CEO, GBTA; Jon Gray, Principal, Rockport Analytics and Michael Brown, Principal U.S. Economist, Visa.

To learn more about GBTA Research, visit the GBTA web page or email research@gbta.org.

Industry Spotlight

Don’t Miss GBTA in Melbourne – July 31
Connect. Collaborate. Lead.

Following the success of our Brisbane Business Travel Forum on June 10, we’re excited to invite you to the next GBTA Australia Business Travel Forum — happening on Thursday, July 31 at The Langham, Melbourne!

These dynamic, half-day events bring together business travel professionals across Australia to dive into the latest trends, challenges, and opportunities shaping the industry today.

Why Attend? Get up to speed on Australian business travel trends through expert-led sessions, join engaging roundtable discussions and connect with business travel industry peers during structured networking and post-event drinks. Agenda Highlights Include:

• Tariffs in Transit: The Ripple Effect on Corporate Travel
• Outlook on AU Travel Markets: Air and Hotel Updates
• Industry Roundtables: Hot Topics for Travel Procurement
• Driving Value: From the New Airline Channels

Resources

Crisis24 Intelligence Brief

More Information