Don't miss out on the most important facts and statistics about global business travel and tourism, rounded up from the best source materials and research.
Business travelers contribute a lot to the travel industry in general.
In the US alone, 1.3 million people go on business trips every day.
Although the industry was forced to a slowdown due to the recent Covid-19 pandemic, the business travel market is expected to grow by 188% in 2028.
Today, I’ve summarized everything from the average business travel spending to employee behaviour towards corporate travel.
Whether you’re going on a trip for work or something else, we hope you might find these statistics useful!
Let’s get started…
Sources: You can see the source of every statistics or go to the bottom of this post for a full list of all the surveys and articles used here.
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Business travel includes any domestic or international trip taken by employees in order to complete corporate-related events. For example, meetings, client works, trade shows, conferences, and product launches.
Business travel spending generally comprises all aspects of the trip, from accommodation and transportation to entertainment.
How many people in the US travel for business?
In the US alone, 1.3 million people travel for business daily.
How big is the business travel market?
The global business travel market was worth $700 billion in 2020.
What percentage of travel is business vs leisure?
In 2021, business travel accounted for 20% of the total global travel and tourism expenditure.
Is the business travel industry growing?
Yes, the business travel market is predicted to grow by 188% in 2028.
Business Travel Key Statistics
92% of these countries also called off all or most of their domestic business tours in April 2020.
The global business travel market was worth $700 billion in 2020.
By 2028, the business travel market is predicted to grow by 188%.
Due to the Covid-19 pandemic, the loss in global business travel spending reached over $700 billion in 2020.
Accommodation makes up 34% of the average business trip cost, while airfare makes up 27%, meals 20% and car rental 19%.
The average business traveler is male (63%) and aged between 35 and 54 year old (50%).
In 2021, the United States and Canada both ranked as the best-rated destinations for business and non-leisure travellers.
56% of business travelers state that lowering their carbon footprint is a moderate priority, whereas 21% believe that it’s a top priority.
The share of companies canceling most or all domestic business trips worldwide reached 38% as of October 2021.
35.2% of travels buyers believe that travel digitization will increase after the COVID-19 pandemic.
General business tourism statistics
1. Although business travelers only comprise 12% of all airline passengers, they contribute up to 75% of profits.
[Investopedia]
This is because corporate travelers tend to pay a higher rate for last-minute and non-stop options.
2. In April 2020, 98% of the member countries of the Global Business Travel Association had to cancel overseas business trips.
[ReportLinker]
3. 92% of these countries also called off all or most of their domestic business tours.
[ReportLinker]
4. Nearly all business travel bookings are made online, with 28% of hotel bookings made from the hotel’s website, 14% through a travel agent, 10% from an online travel agency (OTA), and 7% through a third-party.
5. In the US alone, 1.3 million people travel for business daily.
[StratosJets]
Global business travel market
How big is the business travel market?
6. The global business travel market was worth $700 billion in 2020.
[Statista]
7. In 2028, the business travel market is predicted to grow by 188%.
[Statista]
8. The global business travel market is estimated to reach $829.5 billion by 2027 at a CAGR of 3% over seven years.
[ReportLinker]
The travel market is one of the hardest hit industries in the world by the Coronavirus pandemic. It has begun to recover, albeit slowly, and is expected to reach pre-pandemic levels in roughly seven years.
9. Food & lodging takes up the largest segment in business travel, projected to grow at a 3.7% CAGR and hit $446.6 billion by the end of 2027.
[ReportLinker]
10. The business travel market in the United States was estimated to be worth approximately $243.2 billion in 2020.
[ReportLinker]
11. The Chinese business travel market is predicted to grow at a 5.1% CAGR until it reaches $49.8 billion in 2027.
[ReportLinker]
China has the second largest economy in the world. It’s forecast to achieve a market size of$49.8 billion by 2027.
12. Japan and Canada’s business travel market are predicted to grow at a rate of 2.2% and 3.1% respectively between 2020 and 2027.
[ReportLinker]
13. Meanwhile, Germany will grow with a CAGR of 2.4% over the same period of 2020-2027.
[ReportLinker]
14. The Asia-Pacific region is calculated to reach $114.9 billion market share by 2027, with the notable economies being Australia, India, and South Korea.
[ReportLinker]
15. In the transportation segment of business travel, US, Canada, Japan, China and Europe is expected to drive the 1.4% CAGR, reaching a combined $101.9 billion by 2027.
[ReportLinker]
16. The Latin American transportation market of business travel will grow at a 1.8% CAGR.
[ReportLinker]
Business travel spending
How much are the average business travel expenses?
17. In 2021, business travel accounted for 20% of the total global travel and tourism expenditure, a 1% decrease from 2019.
[Statista]
18. Business travel expenditure peaked at approximately $1.4 trillion in 2019.
[GBTA]
Overall, business travel includes work-related trips such as attending meetings, trade fairs, and congresses.
19. Business travel spending is forecasted to reach $0.9 trillion in 2022, and recover to the all-time high of $1.4 trillion by mid-2026.
[GBTA]
20. Due to the Covid-19 pandemic, the loss in global business travel spending reached over $700 billion in 2020.
[Statista]
21. Global business travel spending is expected to gain 33.8% in 2022.
[GBTA]
22. China recorded the world's highest business travel spending in 2021, at almost $295 billion.
[Statista]
The country spending the second highest amount in business travel was United States, at just over half of China’s spending.
23. However, China was also the country that experienced the biggest loss in business travel expenditure ($404 billion) due to the pandemic.
[GBTA]
24. Europe was the second most impacted region, losing $190.5 billion collectively.
25. The Asia-Pacific region (not counting China, Hong Kong, and Taiwan) lost $120.2 billion in business travel spending.
[GBTA]
26. In terms of business travel spending recovery, North American performed best in 2021, all thanks to the rapid regaining of domestic travel. It’s expected to experience a compounded annual growth of 23.4% by 2026.
[GBTA]
27. For 2022, there was an increase of 16.5% ($407.1 billion) in the Asia Pacific region, recovering to 66% of pre-pandemic levels by the end of the year.
[GBTA]
28. Accommodation makes up 34% of the average business trip cost, while airfare makes up 27%, meals 20% and car rental 19%.
[Travel Pulse]
29. In general, January and March and September to October are the most expensive times to travel.
[Travel Pulse]
Demographics of business travelers
Who is the average business traveler?
30. The average business traveler is male (63%) and aged between 35 and 54 year old (50%).
35. Nearly all (95%) business travelers will make reservations for their trip.
[AHLA]
Top business travel destinations
Where do people travel the most for business?
36. In 2021, the United States and Canada both ranked as the best-rated destinations for business and non-leisure travellers, each obtaining 6.4 in scores.
[Statista]
The scoring system is based on the Travel and Tourism Development Index (TTDI), on a scale from 1 (worst) to 7 (best).
Canada scored 6.4 in 2021, ranking itself as one of two best-rated business and non-leisure travel destinations in the world.
37. They’re followed by Japan (6.2), China (6), and the UK (5.7), rounding up the top 5 business travel destinations.
38. The main country destination for business meetings in 2021 was the United States (500 association events).
[Statista]
39. Spain and Japan, each with more than 360 events in 2021, ranked as the top second and third country destination for business meetings.
[Statista]
40. The US is also the country with the most conferences, business meetings, and trade shows planned between May 2022 and April 2023, with 33 thousand listed events.
[Statista]
41. The United Kingdom has the second highest number of events planned for that period, with 6.4 thousand events listed across all industries.
[Statista]
42. In Q4 2021, Zurich was the most expensive city for business tourism, averaging $593 in daily cost.
[Statista]
Out of the top ten most expensive business travel destinations, three are Swiss cities, which shows just how expensive the country can be.
43. In Tokyo, the average daily cost for business travel is $517.
[Statista]
44. In terms of hotel cost, the most expensive business destination is New York, where a hotel room costs on average $376 per night.
45. Europe is expected to recover the most for US-originating trips in 2022. 25% of travelers say that they expect to take the same amount, if not more, business trips to Europe.
[Deloitte]
Purposes for business travel
What is an example of business travel?
46. 43% of respondents in a survey say that sales visits are in the top two reasons for making international business trips in 2022.
[Deloitte]
47. The next driving reasons for international business trips in 2022 are leadership meetings (32%) and client-based projects (31%).
[Deloitte]
48. Surprisingly, conferences are only ranked as the top two reasons for sending employees overseas by 15% of respondents.
[Deloitte]
Employee perks and opinions in business travel
49. 28% of employees who travel for work report that travel experience or satisfaction is the biggest pain point of their company’s travel program.
[GBTA]
50. Meanwhile, only 13% of travel managers state that travel experience or satisfaction is the single greatest strength.
[GBTA]
51. 41% of business travelers claim that cost savings outweigh employee satisfaction in their corporate travel program. 38% say that both factors are balanced, while 21% state that employee satisfaction is prioritized over cost efficiency.
[GBTA]
52. 38% of business travelers are the least satisfied with the travel technology of their company.
[GBTA]
53. The most desired perk by business travelers is the freedom to book with their favorite travel suppliers (46%).
[GBTA]
54. At 43%, the second most desired business travel perk is the permission to stay an extra night after the end of work meetings.
[GBTA]
55. 39% of business travelers would like the ability to book their travels outside of the corporate travel agency.
[GBTA]
56. 39% expressed a desire for companies to pay for leisure experiences during business trips.
[GBTA]
57. However, a majority of travel managers (84%) state that their company would not consider offering bleisure options.
[GBTA]
58. For 83% of employees, business travel is considered a job perk.
[StratosJets]
59. 79% of employees also say that the ability to travel affects job satisfaction.
[StratosJets]
60. 60% of job applicants report that a company’s travel policy influences their decision when considering an employer.
[StratosJets]
61. Moreover, nearly 2 out of 5 millennial employees won’t accept a job that doesn't allow them to travel.
62. 56% of business travelers state that lowering their carbon footprint is a moderate priority, whereas 21% believe that it’s a top priority.
[GBTA]
63. A majority of business travelers are willing to forego daily hotel cleaning (77%) to reduce carbon footprint.
[GBTA]
64. To support the effort of reducing carbon footprint, most are also willing to use smaller cars (73%), fly premium less frequently (68%), travel less for work (63%), and take longer business trips at a time (56%).
[GBTA]
65. By 2025, 30% of companies expect sustainability to cause a 11% to 25% cutback in travel budgets.
[Deloitte]
Sustainability remains a priority for most companies, but they also expect that it will cause corporate travel spending to decrease.
Hotels and accommodation in business travel
66. In 2019, meetings and conferences made up 18% of hotel gross bookings.
[Deloitte]
This data was based on a 2020 Phocuswright study.
67. In a 2015 survey, business travelers comprise 40% of hotel guests.
[AHLA]
68. In 2015, hotels generated $141.5 billion in business travel tax revenue alone.
[AHLA]
69. Corporate booking tools heavily rely on hotels as accommodation. Only 9% offer alternative lodging.
[Deloitte]
70. Almost half of companies surveyed in 2022 don’t offer nonhotel lodging reimbursement for their employees.
[Deloitte]
71. 12% of travel managers have succeeded in adding clauses that specify the availability of amenities for business events in hotels.
[Deloitte]
72. Meanwhile, 10% of travel managers have considered adding such clauses, although they haven’t been successful in implementing them.
[Deloitte]
73. When Airbnb for Work launched as Airbnb for Business in 2014, their bookings tripled from 2015 to 2016.
[PhocusWire]
74. Then again, Airbnb for business bookings tripled from 2016 and 2017, while the number of companies using the platform hit 700,000 in 2017, almost double from the previous year.
75. Out of the 60% of Airbnb for Work bookings with more than one guest, 40% of them have three or more guests.
[PhocusWire]
This indicates a growing interest in collaborative business trips.
Business travel technology and accessibility
76. Only 26% of travel managers claim that their corporate travel booking tool does a good job in accommodating employees with accessibility needs.
[GBTA]
77. Meanwhile, a significant percentage of travel managers (37%) are not sure how well their company’s booking tool assists employees with accessibility needs.
[GBTA]
78. 78% of business travelers would like to see personalized search results based on previous purchases and travel loyalty status (78%).
[GBTA]
79. The same percentage (78%) is also interested in the ability to book multiple types of ground transportation.
[GBTA]
80. Moreover, 70% is interested in integrated access to risk intelligence information. This includes COVID-19 infections and crime statistics in the local area.
[GBTA]
This shows just how ready business travelers are for new booking-related innovations that can make the business travel experience more seamless.
Challenges and opportunities in business travel
What is the outlook of business travel?
81. 85% of business travelers stated that they need to travel to accomplish their business goals.
[GBTA]
This was based on a GBTA survey in July 2022 of more than 400 frequent business travellers and nearly 48 decision makers.
82. More than 75% expect to make more business trips in 2023 than they did in 2022.
[GBTA]
83. 84% of senior global corporate finance professionals are confident that travel spending would increase in 2023.
[GBTA]
84. 73% of business travelers agree that inflation will impact business travel volumes in the future.
[GBTA]
85. 69% of business travelers and 75% of global financial executives are worried that a possible recession will affect business travel.
[GBTA]
86. Most business travelers are ready to travel for work as much as they did before the pandemic. A total of 81% prefer to take the same amount (46%) or more (35%) business trips.
[GBTA]
87. Compared to WFH-dominant companies, those that implement more WFO policies are twice as likely to expect travel spending to recover to 2019 levels by the end of 2023.
[Deloitte]
88. Over 30% of Airbnb for Work bookings include at least one weekend night, which shows that leisure is still common.
[PhocusWire]
Covid-19 impact on business travel
How did the Covid-19 pandemic affect business travel?
89. The share of companies canceling most or all domestic business trips worldwide reached 38% as of October 2021.
[Statista]
According to the Global Business Travel Association, 38% of companies canceled most or all domestic business trips in October 2021.
90. In that same month, nearly eight in ten firms delayed international business travel.
[Statista]
91. Business travel failed to meet expectations in the second half of 2021, with approximately 33% of travel managers expecting to hit half of their 2019 spending in June 2021, but only 8% managing to reach that goal.
[Deloitte]
92. In 2021, business travel spending worldwide recovered by just 5.5% after having plummeted by over 50% in the previous year due to the coronavirus pandemic.
[Statista]
93. 70% of providers and buyers of business travel services stated Covid-19 travel restrictions hurt their business outcomes.
[Statista]
This data was gathered from a global survey in February 2022.
94. As a concrete example, Deloitte spent more than $583 million on air travel in 2019, but only $97 million in 2020.
[Statista]
This figure is surprising because Deloitte was the second leading air travel spender in the United States.
95. 58% of travel managers around the world expected that hotel prices would plummet during the Covid-19 pandemic.
[Statista]
96. 35.2% of travels buyers believe that travel digitization will increase after the COVID-19 pandemic.
[Statista]
97. 72% of organizations are keeping online and hybrid meetings even after the pandemic ends.
[Statista]
98. As of February 2022, around 10% of employees across the globe were still unwilling or unsure to take business trips.
[Statista]
99. While pandemic-related concerns in corporate travel have fallen in 2022, increasing travel prices remain a huge barrier.
[Deloitte]
100. Overall, the 2022 GBTA Business Travel Index concludes that the biggest challenges to faster recovery in global business travel include inflation, high energy prices, and labor shortages.
[GBTA]
101. The economic slowdown in China and rising sustainability problems are also two major factors in the slow recovery of business travel worldwide.
Conclusion
That’s all about business travel for now!
We’ve learned the outlook of business travel, which despite being impeded by the Covid-19 pandemic will continue to recover and grow.
Do you think we missed any important aspect about business travel?
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I'm an Economics graduate with a passion for travel. In 2016 I decided to ditch the office environment, work from my laptop and travel to every country in the world. You'll find me working out of a cafe in Bali, perhaps on a riverboat in Brazil or maybe even an airport lounge in New Delhi.
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