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A recent report by the World Travel and Tourism Council revealed that business travel is not only expected to surpass pre-pandemic 2019 levels but is projected to set a record turnover of 1.5 billion dollars.

Due to the rise of remote working and online platforms that enabled virtual seminars and meetings, the business travel sector had not seen the same recovery as leisure travel until recently. However, as the importance of face-to-face communication and connection among businesspeople becomes increasingly apparent, business travel rebounded in 2024, surpassing 2019 levels by 6.2%, setting a record turnover.

According to the “Economic Impact Trends 2024” report by the World Travel and Tourism Council, the USA and China – holding the largest global market share in business travel – saw an increase of 13.4% and 13.1%, respectively, compared to 2019, indicating the full and dynamic recovery of the sector. Significant growth is also expected in Germany, the United Kingdom, and France, with business travel spending nearing 2019 levels.

It is evident that business travel is rapidly recovering as companies recognize the value of international travel and in-person networking. Also, the report concludes that the comeback is partly due to the global economy’s recovery after the pandemic and the increased popularity of “bleisure travel,” which combines business trips with leisure time. Moreover, the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry has made a strong comeback with the resumption of in-person events.

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