Business travel may be back – but for many travelers, it feels very different
Aug 19, 2024
Business travel is almost back – but with some caveats. Frequent travelers aren’t taking as many trips, extended stays are becoming more common, and there’s a heightened focus on traveler health. Hotels that adapt to these shifts have a chance to attract these valuable guests.
Key takeaways
- Business travel spending is expected to reach 2019 levels this year, but when adjusted for inflation, it’s still down by 18%;
- Fewer business trips are being taken in the last few months of the year compared to pre-pandemic times. This decline may also reflect a growing preference for spending the holidays with family;
- The partial recovery of business travel is influenced not just by corporate cost-cutting due to inflation, but also by changing industry perspectives that are reshaping the sector.
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