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Global Business Travel and Events Costs Moderating in 2024, with Continued Modest Increases in 2025
Global business travel and events prices appear to be moderating following the dramatic increases seen in recent years. The “2025 Global Business Travel Forecast,” published today by CWT and GBTA reveals that while costs will continue to rise, the pace of these increases will be notably slower through 2024 and into 2025. This reflects a stabilization in market conditions and a more balanced growth trajectory, according to the report.
“While the past few years have seen significant volatility in travel costs, our latest data suggests a period of relative stability is on the horizon,” said Patrick Andersen, CWT’s President & Chief Executive Officer.
Suzanne Neufang, CEO of GBTA, added, “The research shows that while a more stable period for travel costs is likely, businesses should remain vigilant to evolving pricing dynamics influenced by global trends. The next few years will require a strategic approach that balances cost management with sustainability, innovation, and responsiveness to market changes.”
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