When global travel ground to a halt during the pandemic, business travel dried up right along with it. But data from the Global Business Travel Association (GBTA) suggests recovery is ahead, even if it looks a little different.
As trips and conferences were swapped for zoom meetings and virtual events, global business travel activity halved in 2020, generating $661 billion compared to $1.43 trillion in 2019.
Figures from GBTA's Business Travel Index estimate this figure will top $1 trillion in 2022, and return to pre-pandemic levels in 2024.
The waning Omicron wave in many major countries is thought to play a large part in the sector's recovery. In a January GBTA poll, most managers (64 per cent) said their employees were "willing" or "very willing" to travel for business.
Similarly, 72 per cent of GBTA members and stakeholders said they would definitely or probably travel for business.
However, people should not expect business travel to look exactly as it did pre-pandemic.
Many organisations have benefitted financially from the travel hiatus, meaning they may focus on bundling several events or meetings into a single trip.