Rockport Analytics & GBTA Unveil 2024 Business Travel Outlook

August 7th, 2024 |

In partnership with GBTA, Rockport Analytics spearheaded the 2024 Business Travel Index Outlook, revealing key trends shaping corporate travel.

Global business travel spending surged 30% in 2023 and is set to hit a record $1.48 trillion in 2024, surpassing pre-pandemic levels. By 2028, spending is projected to exceed $2 trillion, driven by strong demand despite inflation and economic uncertainties.

Growth varies by region and sector, with financial, entertainment, and professional services leading the way. Asia Pacific is the fastest-growing market, while North America and Western Europe have stabilized at pre-pandemic levels. Business travelers are also adapting, with 64% spending more than last year and mobile wallets gaining popularity, especially in Asia Pacific.

While risks like inflation and geopolitical tensions remain, stabilizing economies and technological advancements indicate a strong future for business travel.

Read more from MeetingNet’s press release of the study.