As 2024 draws to a close, there is strong sentiment from the global business travel industry that the year outperformed expectations, paving the way for increased budgets, strategic investments and growth initiatives for 2025.

This is according to a new research poll by the Global Business Travel Association (GBTA) where 86 per cent of global business travel buyers and travel suppliers surveyed said that business travel performed on par or better than they anticipated in 2024.

Additionally, with 67 per cent of professionals stating their general outlook is optimistic for the industry’s future, the results suggest a strong desire for business travel expansion in 2025.

This underscores the industry’s resilience and adaptability over the past few years and highlights an increased focus ahead on budgets, technology and sustainability, even as companies navigate rising travel costs and evolving traveler preferences.

“GBTA’s findings illustrate an industry at a pivotal point. Business travel is more than rebounding, it’s transforming − driven by the need to manage costs and risk, ensure strong traveler productivity and experience, and drive responsible growth.

“As 2025 approaches, industry leaders are balancing expansion with accountability, looking to harness new technology, trip trends and sustainable practices to enable business travel to continue to deliver incredible value in a rapidly changing world,” said Suzanne Neufang, chief executive of GBTA. 

Now in its 35th edition, the GBTA poll reflects responses from almost 900 business travel professionals worldwide, offering significant insights into the trends, challenges and future expectations for global business travel.

Here are some of the key findings from the GBTA Business Travel Industry Outlook Poll:

Positive sentiment and optimism, now and ahead

When asked how they thought the business travel sector has fared in 2024, survey results reveal that 93 per cent of travel buyers and 79 per cent of travel suppliers believe the sector has met or exceeded their expectations, despite variable economic and operational conditions.

As business travel professionals prepare for the new year, two-thirds (67%) report an optimistic outlook.

Only six per cent are pessimistic.

North America and Latin America lead this optimistic sentiment, at 71 per cent and 72 per cent, respectively.

Buyers, in particular, report more confidence than suppliers, with 71 per cent of buyers expressing optimism for 2025, compared with 62 per cent for suppliers.

While travel programs are keeping an eye on the economy, few plan to limit business travel next year. Over half (55 per cent) are unlikely or are not seriously considering limiting business travel in 2025.

Only 17 per cent are limiting business travel because of economic concerns.

A rising share of buyers (52 per cent, up from 44 per cent in 2023) predicts an increase in their corporate travel budgets, to support customer-facing meetings, sales initiatives, conferences, and internal collaborations.

Some seven per cent expect budgets to be “significantly” higher.

Only 16 per cent of buyers anticipate reduced budgets, demonstrating a continuing, clear commitment to in-person engagement in 2025.

Asked to select up to three top factors driving their optimism for the year ahead, business travel buyers and suppliers most commonly say easing travel costs/corporate budgets keeping pace (46 per cent), improving economy/inflation reduction (44 per cent), and increased traveler confidence/more requests for travel (40 per cent).

Emerging patterns and preferences of business travelers

The survey also reflects ongoing shifts in traveler preferences.

The trend of “blended travel” − combining work trips with leisure purposes − continues to be on the rise, with almost half of buyers (46 per cent) saying employees at their company are taking more “bleisure” trips today than they did a year ago.

Only nine per cent say employees are taking fewer blended trips.

In-person meetings continue to bounce back.

Three in five buyers (59 per cent) say their company’s employees are attending more in-person meetings and conferences now than they did a year ago.

Additionally, 45 per cent of travel buyers said their employees wanted to travel more this year compared to 2023.

‘Linked’ business trips, those that combine multiple meetings and/or stops in a single trip, continue to increase.

Over half of buyers (53 per cent) say their company’s employees are taking more linked trips than they did a year ago.

However, day trips for business are on the decline while trip duration increases.

A larger number of buyers report seeing fewer day trips (27 per cent) over the past year than more day trips (21 per cent).

Additionally, over a third of buyers (36 per cent) report longer duration of trips versus last year. 

More information - methodology

A total of 890 responses were received by GBTA from global travel buyers, suppliers and other industry professionals across North America, Europe, Latin America and Asia-Pacific, Latin America and Africa and Middle East for the poll fielded October 7-18, 2024.