Europe anticipated to be fastest growing business travel market in 2023

Europe’s business travel spend now accounts for approximately 20% of global spend compared to 27% in 2019, according to GBTA

Feb 23, 2023

Europe’s business travel spend is expected to grow by 25.3% in 2023, according to GBTA's latest Business Travel Index. Despite this healthy start to the year, there is caution as uncertainty continues due to rising inflation and economic crisis, all threatening to derail progress as we move further into 2023.

Key takeaways

  • In 2020, Europe’s business travel spend declined 58.1%, the second largest percentage drop of any global region;
  • In 2021, most of the world saw a modest recovery, however, Europe was the only region that saw business travel spend continue to fall;
  • Despite earlier declines, Europe remains the third largest business travel region in the world with 20% of global spend in 2022.

Get the full story at GBTA

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