Business travel grows, but big firms cut back

Deloitte’s 2025 analysis shows mixed trends as costs, sustainability, and employee reluctance reshape corporate travel

Deloitte’s latest report on U.S. business travel finds that overall spending is still climbing, but growth remains modest and uneven. Large companies are tightening budgets while smaller firms are more likely to expand, with rising costs and sustainability goals weighing heavily on travel decisions.

Key takeaways

• Overall spend growth: Nearly three-quarters of companies increased travel budgets in 2025, averaging 22 percent growth over 2024.
• Large vs. small companies: 20 percent of large firms cut travel spend (average 35 percent cut), while only 6 percent of small firms reduced budgets (average 18 percent cut).
• Key drivers of travel: Conferences, leadership meetings, and on-site monitoring visits saw the sharpest increases in spending.
• Traveler behavior shift: Fewer employees are taking frequent trips, with a decline in those traveling 6+ times a year, especially at large firms.
• Cost pressures: 54 percent of managers cited rising costs as the top barrier to travel, up 6 points from 2024.
• Sustainability and reluctance: Nearly half of companies report sustainability commitments limiting travel, and more employees are showing unwillingness to travel.
• Strategic oversight: More companies are now evaluating travel at the C-suite or board level, reflecting its growing importance in business governance.

Get the full report at Deloitte