GBTA predicts record business travel spending in 2024, to surpass $2 trillion by 2028

29-07-24

Business travel spending is set to reach new heights in 2024, with the Global Business Travel Association (GBTA) forecasting a record $1.48 trillion by year-end, surpassing the previous high of $1.43 trillion in 2019.

The GBTA’s 2024 Business Travel Index Outlook, unveiled at their Atlanta convention, projects this upward trend to continue, exceeding $2 trillion by 2028.

"We are witnessing the expected rebound in the sector, reflecting the resilience and adaptability of businesses and the value of business travel worldwide," said Suzanne Neufang, CEO of GBTA. Despite this optimistic outlook, Neufang emphasized the importance of staying vigilant to potential challenges such as economic fluctuations, technological advancements, and sustainability developments.