U.S. business travel spending to grow, but slowly

U.S. domestic business travel volume is projected to remain below pre-pandemic levels until 2026, while total business travel spending is not forecast to recover before 2028

Jan 18, 2024

U.S. Travel projects business travel volume and spend each to continue to grow year over year through 2027, the last year of the forecast, but at a declining rate each year. Global business travel spending is projected to reach $265.5 billion in 2024, nearly 87 percent of 2019 levels. By 2027, it is expected to reach $282.7 billion, 92.4 percent of pre-pandemic levels.

Key takeaways

  • U.S. Travel projects slowing economic growth that "will hinder domestic business travel's recovery." Domestic business travel volume for 2024 is projected to be $442 million, about 95 percent of 2019 levels, up from 89 percent in 2023, according to U.S. Travel;
  • Domestic business travel spending for 2024 is projected to reach $236.8 billion, nearly 89 percent of 2019 levels. By 2027, that figure is forecast to be $252.8 billion, 93.8 percent of pre-pandemic spending;
  • U.S international business travel spending also is not projected to fully recover during the timeline of the forecast. U.S. Travel forecasts $28.7 billion in U.S. international spending in 2024, about 78.8 percent of 2019 levels.

Get the full story at BTN

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