Travel professionals optimistic for 2025, says GBTA survey – The Business Travel Magazine

More than two thirds (67%) of travel professionals remain optimistic for the industry’s future, according to the latest Business Travel Industry Outlook Poll.

Its survey of nearly 900 business travel professionals – buyers and suppliers – found 86% said business travel performed on par or better than they anticipated in 2024.

“GBTA’s findings illustrate an industry at a pivotal point,” said Suzanne Neufang, CEO of GBTA.

“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.”

As business travel professionals prepare for 2025, North America and Latin America lead this optimistic sentiment, at 71% and 72%, respectively.

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

Over half (55%) of the global respondents said they are unlikely or are not seriously considering limiting business travel in 2025. Only 17% are limiting business travel because of economic concerns.

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

Some 7% expect budgets to be “significantly” higher. Only 16% of buyers anticipate reduced budgets, demonstrating a continuing, clear commitment to in-person engagement in 2025.

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

Three in five buyers (59%) say their company’s employees are attending more in-person meetings and conferences now than they did a year ago. Additionally, 45% of travel buyers said their employees wanted to travel more this year compared to 2023.

“Linked” business tripsthat combine multiple meetings and/or stops in a single trip continue to increase. Over half of buyers (53%) 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%) over the past year than more day trips (21%). Additionally, over a third of buyers (36%) report longer durationof trips versus last year.

But cost control remains paramount, cited by 78% of buyers as one of the most important strategic priorities for their program next year, alongside traveller safety (65%) and return on investment of travel (49%).

The top concern for next year rising travel costs and budgets not keeping pace (74%), followed by technology evolution (40%) and employee travel program compliance (40%).

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.  

gbta.org