• NEWS
    • SUBSCRIBE
    • ADVERTISE WITH US
  • EVENTS
    • THIRSTY THURSDAY
      • ABOUT US
      • HOW TO JOIN
      • RSVP PORTAL
      • EVENT PHOTO/VIDEO
    • VIDEOS
    • PHOTOS
    • COMPETITIONS
    • TRAINING
    • CONFERENCES
  • JOBS
    • SEARCH FOR JOBS
    • POST A JOB
  • EVERYTHING BRAND TD
    • ABOUT BRAND TD
    • ADVERTISE WITH US
    • WHAT IS NATIVE CONTENT
    • EXECUTIVE TEAM
      • Gary (Founder/CEO)
      • Chris (GM & Managing Editor)
      • Mali (Finance Mgr)
    • CONTENT TEAM
      • Kristin (Senior Editor)
      • Kanchan (Editor)
    • SALES TEAM
      • Gary (CEO)
      • Chris (GM & Managing Editor)
      • Anthony (Regional Sales-APAC)
      • Martin C (BDM-Asia)
      • Maxine (BDM-UK)
    • EVENTS TEAM
      • Marc (Director)
      • Suwapa (Events Mgr)
  • SELF SERVICE
    • 2024 Media Kit
    • 2024 Events Kit
    • Submit Press Release
    • Self Service portal
    • Upload your Travel Blog

Travel Daily Travel Daily - Informing, connecting and developing the world’s travel industry professionals.

  • MARKETS/SECTORS
  • FEATURES
    • Partner Articles
      • Airlines / Airports
      • Car Rental
      • Conferences
      • Cruising (Ocean)
      • Cruising (River)
      • Destination Management (DMC)
      • GDS / CRS
      • Hotels & Resorts
      • Hotel Management Company
      • Hotel Technology
      • HR / Appointments
      • Insurance
      • Meetings, Incentives, Conferencing, Exhibitions (MICE)
      • Travel Agents (all)
      • Travel Technology
      • Tourism Boards
    • Interviews
    • Industry appointments
    • Podcasts – Features
    • Guest Writers
    • PR Newswire
  • TRAVEL GUIDES
    • Destination NaJomtien BanAmphur BangSaray *NEW*
    • จุดหมายปลายทาง นาจอมเทียน หาดบ้านอำเภอ บางเสร่ *NEW*
    • South Australia Rewards Wonders *NEW*
    • Ponant Yacht Cruises and Expeditions
    • Encore Tickets (Chinese Guide)
    • Affordable Luxury in Thailand by Centara Hotels
    • Rising Above the Oridinary by Conrad Bangkok
    • The Best of Thailand
  • IWTA SERIES
    • Who is IWTA
    • Recommend Someone
    • Recommend yourself
    • Meet our featured leaders
      • Australia
      • Cambodia
      • China
      • Hong Kong
      • India
      • Indonesia
      • Japan
      • Laos
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
  • IWTA Awards
Travel Daily Media
MICE (Meetings, Incentives, Conferencing, Exhibitions)Vaccination UpdatesUnited States

Global business travel to grow 21% in 2021

By Megha Paul On Feb 4, 2021
Guest Contributor

Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly

Share

Business travel spending is forecast to grow 21% this year worldwide, helped by the rollout of COVID-19 vaccines, but will not recover to pre-pandemic levels until the middle of the decade. This was revealed by the Global Business Travel Association (GBTA) in its new survey.

Spending on business travel is projected to rise to USD 842 billion in 2021, according to the GBTA BTI Outlook, after dropping 52% in 2020 to USD 694 billion due to the pandemic.

After a decade of steady annual growth, business travel is expected to have shown losses in 2020 that were 10 times greater than the declines after the Sept. 11, 2001, attacks or the 2008 recession, GBTA said.

Despite the expected growth in travel in 2021, uncertainty around vaccination progress and US President Joe Biden’s policies can affect the recovery.

“The continued rollout of the vaccine will be central to recovery globally, as will decisions the new Biden Administration makes regarding global trade and border and quarantine policies,” said Dave Hilfman, GBTA’s interim executive director.

As US airlines also expect, the group said businesses are likely to spend more on travel that cannot be duplicated with online meetings such as sales calls and service trips. The proportion of companies’ travel budget spent on internal meetings is estimated to decline 6%, compared with 2019, the group said.

By the end of 2024, business travel spending is projected to reach about USD 1.4 trillion, nearly equalling the 2019 pre-pandemic revenue peak of USD 1.43 trillion, the group said. It projects a full recovery in 2025. Key developing economies in Asia Pacific will drive global growth in business travel over the next decade, the group said.

Accor Hotels GroupAccor HotelsAccor GroupAccorGlobal Business Travel Association (GBTA)Dave Hilfman
Share
You might also like
Hotels

Ennismore & Banyan Tree Group ink deal with Dubai Holding to bring Banyan Tree…

Hospitality

Accor drives premium brand growth

Hotels

Accor Queensland hotels certified by Ecotourism Australia

Hotels

Accor unveils Peppers Gladstone

Prev Next

Comments are closed.

POPULAR STORIES

Lufthansa Offers Special Fare With 100 Percent Sustainable…

Royal Caribbean Unveils Exclusive Wine Partnership

WTTC and Saudi Arabia extend partnership through MoU

Business tourist flow from India to Moscow on the rise:…

Prev Next 1 of 6,484

PARTNER CONTENT

  • Embark on a journey of a lifetime: Silversea’s World Cruise 2024 – Far East-West

    Read More...
  • Carlton Hotel Bangkok Sukhumvit: Elevate your Bangkok experience

    Read More...
  • Elevate your event with Bali Dynasty Resort’s meeting package

    Read More...
  • Silversea’s Gems and Icons 2025 Summer: 5 reasons why you should join the cruise

    Read More...
  • Monaco: A Prestigious MICE Destination Like Nowhere Else

    Read More...
STAY UPDATED WITH THE LATEST TRAVEL NEWS, JOBS & EVENTS!
Join over 180,000 travel agents, professionals and executives subscribed to our daily newsletter.
You can unsubscribe at any time
Search
MENU
  • News
  • Events
  • Jobs
  • Subscribe

MARKETS

  • Asia
  • Australia
  • New Zealand
  • India
  • Middle East
  • UK & Europe
  • USA

SECTOR

  • Airlines
  • Airports
  • Cruise
  • Hospitality
  • HR & Careers
  • Luxury Travel
  • MICE (Meetings, Incentives, Conferencing, Exhibitions)
  • Travel Tech
  • Tourism
  • Travel Agents
About
  • BOOK A SALES CALL
  • About TD (Travel Daily Media)
  • Advertise with Us
  • Privacy Policy
  • Terms of Use
© 2023 - Travel Daily Media. All Rights Reserved.
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Close

Welcome, Login to your account.

Forget password?

Sign in with Google

Powered by wp-glogin.com

No account? Sign Up
Sign in

Recover your password.

A password will be e-mailed to you.

CREATE A NEW PROFILE
SIGN IN TO EXISTING PROFILE
back

LOG IN

Welcome back, Log in to your account.

Continue with Facebook
Continue with Google
Continue with Twitter
Continue with LinkedIn

OR
Log in using your email
Forgot password?
back

Recover your password.

back

SIGN UP FOR FREE

(New User)

Be part of our community of seasoned travel and hospitality industry professionals from all over the world.

I want to
Only letters and numbers are allowed
Please enter a valid email address
Must be between 6-8 characters
Must be the same with Password
  • LOGIN / SIGN UP
  • NEWS
    • MARKETS
      • Asia
      • China
      • Pacific
      • India
      • Middle East
      • UK & Europe
      • USA & Canada
    • SECTORS
      • Airlines
      • Airports
      • Cruise
      • Hospitality
      • HR & Careers
      • Luxury Travel
      • MICE (Meetings, Incentives, Conferencing, Exhibitions)
      • Travel Tech
      • Tourism
      • Travel Agents
    • FEATURES
      • Partner articles
        • Airlines / Airports
        • Car Rental
        • Conferences
        • Cruising (Ocean)
        • Cruising (River)
        • Destination Management (DMC)
        • GDS / CRS
        • Hotels & Resorts
        • Hotel Management Company
        • Hotel Technology
        • HR / Appointments
        • Insurance
        • Meetings, Incentives, Conferencing, Exhibitions (MICE)
        • Travel Agents (all)
        • Travel Technology
        • Tourism Boards
      • Interviews
      • Industry appointments
      • Travel Bloggers
      • Podcasts – Features
  • EVENTS
    • Thirsty Thursday
      • About us
      • How to join
      • RSVP Portal
      • Event Photos/Videos
    • Photos
    • Videos
    • Webinars
    • Competitions
    • Conferences
  • JOBS
    • Search for Jobs
    • Post a Job
  • TRAVEL GUIDES
    • Destination NaJomtien BanAmphur BangSaray *NEW*
    • จุดหมายปลายทาง นาจอมเทียน หาดบ้านอำเภอ บางเสร่ *NEW*
    • South Australia Reward Wonders *NEW*
    • Ponant Yacht Cruises and Expeditions
    • Encore Tickets (Chinese Guide)
    • Affordable Luxury in Thailand by Centara Hotels
    • Rising Above the Oridinary by Conrad Bangkok
    • The Best of Thailand
  • IWTA SERIES
    • Who is IWTA
    • Meet our featured leaders
      • Australia
      • Cambodia
      • China
      • Hong Kong
      • India
      • Indonesia
      • Japan
      • Laos
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
    • Recommend Someone
    • Recommend yourself
  • IWTA AWARDS
    • Awards site