Business Travel, We're Back

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Business trips are back, and they hold significant value across industries.

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A new report from Deloitte indicates business travel spend may reach or surpass pre-pandemic levels by the end of the year.

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• Most travel managers expect their companies’ spend to grow in both 2024 and 2025
• Those managers predict 14 to 15% spending growth each year

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Conferences, sales visits, and client project work are all driving the comeback.

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While business travel has taken longer to rebound than leisure travel, which bounced back almost immediately after the pandemic, it’s a vital revenue source for airlines, hotels, and travel agencies.

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Even though business trips only account for ~12% of total U.S. travel, they make up as much as 75% of revenue on certain flights because they are often willing to spend for better seats, amenities, and last-minute travel plans.

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So, yeah, business travel is a big deal and has huge ramifications for the economy.