Rebound of business travel demand faces new hurdles
Corporate travel to soften slightly for the rest of the year and probably remain tepid into the first quarter of 2023
The recovery of business travel has been inconsistent across the U.S., and now new hurdles arise as companies are tightening travel budgets amid a slowing economy.
Key takeaways
- The economic outlook has weakened and now includes expectations of a mild recession next year;
- 86% of corporate executives report their organization has sustainable corporate travel policies in place;
- Corporate travel managers in recent weeks began banning non-essential business travel.
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