Business travel spending could recover in 2024

Next year is likely to see growing corporate spending and slowing leisure spending, according to PwC

Business travel is tracking to reach pre-pandemic levels in terms of dollars spent next year, but a recovery in terms of volume is nowhere in sight, according to analysis from PwC U.S. airline and travel practice leader Jonathan Kletzel.

Corporate travel has continued to "inch up," Kletzel told BTN. "Events are back, and they're back with what seems like a vengeance, and traditional corporate travel is climbing back," he said.

At the same time, the economy "is still in a weird place" which has led to some tentativeness on the corporate side to raise travel budgets, according to Kletzel. Traditional corporate travel patterns remain disrupted by the growth in remote work as well, alongside growing efforts for sustainability curtailing some travel and spurring companies to urge travelers to get more productivity out of single trips.

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