The global business travel industry is closing out 2024 on a high note, exceeding expectations and setting the stage for expansion in 2025.

According to a new survey conducted by the Global Business Travel Association (GBTA), 86% of business travel buyers and suppliers believe the industry met or surpassed their predictions for the year.

This positive sentiment extends to 2025, with 67% of professionals expressing optimism for the industry’s future. The survey highlights increased corporate travel budgets, a focus on technological innovation, and sustainability as key priorities for the coming year, even as companies manage rising costs and shifting travel preferences.

“Business travel is not only recovering but transforming,” said GBTA CEO Suzanne Neufang. “In 2025, leaders are balancing growth with accountability, embracing technology, adapting to traveller preferences, and focusing on sustainability to ensure the industry’s continued value in a rapidly evolving world.”

Key findings from the GBTA Poll including the following:

Positive Outlook for 2025

• Performance in 2024: Nearly all travel buyers (93%) and a majority of suppliers (79%) reported that the business travel sector met or exceeded expectations this year.
• Regional Sentiment: Optimism is highest in North America (71%) and Latin America (72%), with buyers (71%) more confident than suppliers (62%).
• Budgets on the Rise: More than half (52%) of buyers expect higher travel budgets in 2025, supporting key business activities like client meetings and conferences.

Evolving Travel Patterns

• Blended Travel Growth: Nearly half (46%) of companies report an increase in “bleisure” trips, where employees combine work and leisure.
• In-Person Meetings: Attendance at in-person events continues to rise, with 59% of buyers noting an increase over the past year.
• Linked Trips: Over half (53%) of employees are combining multiple meetings into single trips, while the length of trips is also increasing.

Challenges Ahead

• Cost Concerns: Rising travel expenses remain the top challenge for 74% of buyers, followed by compliance and technological hurdles.
• Sustainability Barriers: While 44% of travel programs now integrate sustainability initiatives, high costs and complex implementation remain obstacles

Technology and AI Adoption

• Digital Investments: Nearly half (49%) of travel programs plan to boost technology investments, despite integration and budget challenges.
• AI Integration: Interest in artificial intelligence is growing, with 44% of respondents excited about its potential impact, up from 32% in 2023.

NDC Implementation

• Adoption of New Distribution Capability (NDC) content remains uneven, with 29% of travel platforms offering it seamlessly, but 52% facing challenges in implementation. 

Sustainability and Regional Trends

Europe and the Asia-Pacific region lead the way in sustainability, with over 60% of respondents prioritizing eco-friendly travel. In contrast, only 34% of North American respondents cite sustainability as a high priority, reflecting regional differences in adoption.

Looking Ahead

As 2025 approaches, the business travel industry is poised for growth while tackling challenges like cost management, compliance, and sustainability. The GBTA’s findings offer a comprehensive view of how companies are navigating this transformative period.
 

To read the full report, click here.

Source: Travelweek