New Study Shows Strong Demand for Business Travel in 2024

Internova
Travel Group, one of the world’s largest travel services companies, has
just revealed the results of its recent survey, the ‘2024 Internova Index:
North American Business Traveler Insights’ report, which indicates that the industry
is seeing a strong demand for business travel.
The research gathered insights from millions of travel bookings and a
comprehensive survey of business travelers in the United States and Canada.

According to the report
85 percent of business travelers anticipate traveling the same amount or more
frequently in 2024, as compared to 2023. Notably, approximately 30 percent of
respondents engage in “bleisure” travel, combining business trips
with leisure time and activities.

Meanwhile, the
average daily rate (ADR) for hotel bookings by business travelers in the U.S.
increased by approximately five percent from 2022 to 2023. Additionally, travel
agencies are proving increasingly essential in making business travel reservations
since the end of the COVID-19 pandemic. 

The North American
Business Traveler Insights report is a specialized edition of The Internova
Index: North American Traveler Insights series, focusing specifically on
corporate travel trends. The inaugural version of this annual report draws on
extensive data analysis of travel bookings in North America, along with a
consumer survey involving approximately 3,000 travelers.

The study segmented
business travelers into three categories: Executives, meaning senior management
personnel; Road Warriors, frequent travelers often in sales or client-facing
roles; and Occasional Travelers, whose roles involve minimal travel.

Corporate or business travelers walking through the airport. (Photo Credit: Adobe Stock/Rawpixel.com)

“Our
newest Internova Index report presents a carefully researched and hopeful
outlook for business travel in 2024,” said J.D. O’Hara, CEO of Internova
Travel Group. “It’s clear that our business travel clients appreciate the
vital assistance we gave them during and after the pandemic, and they are
relying on us in ever-increasing numbers to provide the same high level of
expert service, no matter where their work takes them.”

While the overall
number of trips per business traveler increased by three percent between 2022 and
2023, the segment that experienced the most significant growth was the Road
Warriors, with a 30 percent increase in domestic trips. Furthermore, 30 percent
of all business travelers anticipate traveling more in 2024 compared to the
previous year. On the whole, 30 percent of all business travelers said that
they anticipate traveling more in 2024 compared to last year.

Since 2019, there
has been a notable rise in the use of travel advisors for booking business
travel. This trend, which continues to grow, was likely influenced by the difficulty
and confusion that accompanied travel planning during the pandemic and directly
thereafter. Road Warriors, in particular, are 15 percent more likely to utilize
a travel management company—whether that’s an online tool or a human advisor—this
year than in 2019.

The 2024 Internova
Index: North American Business Traveler Insights report was developed by
Internova Analytics and Consulting, leveraging proprietary data sources and
expertise, plus a dedicated project delivery team to provide valuable industry
insights. Internova Analytics and Consulting offers tailored collaborations to
assist travel industry participants in adjusting to emerging trends and
tackling their most urgent obstacles.

“Last
year, our team of analysts, consultants and travel experts harnessed our
proprietary data to release the first Internova Index, focusing on general
travel trends,” said Henry Gilroy, Senior Vice President, Strategic
Development at Internova Travel Group. “We’re excited to expand more into
the corporate space and demonstrate to our partners that we can support their
analytical needs across all segments of the market.”

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