There have been some encouraging signs that business travel is rebounding to pre-Covid spending levels sooner than anticipated, according to the Global Business Travel Association .
Business travel was essentially shut down during the Covid pandemic, with many predicting a slow slog to revive sales and a landscape that would be permanently changed.
Now the organization is predicting global business travel spending will surpass its 2019 spending level of $1.4 trillion in 2024, compared with its earlier forecast of 2026.
Some 28% of those who make the business travel decisions and 32% of those in charge of company travel budgets said their workplace will increase business travel in the coming year, Morning Consult found.
Of course, the recovery in business travel can also shift if there are changes in the economic environment.
Persons:
Lindsey Roeschke, Roeschke, That's, Michael Linenberg, Linenberg, Patrick Scholes, Scholes, — CNBC's Michael Bloom
Organizations:
Global Business Travel Association . Business, Morning, Deutsche Bank, CNBC, American Airlines, Delta Air Lines, United Airlines, Ryman Hospitality Properties, Ole Opry, Hospitality, Hyatt Hotels
Locations:
Delta