Business travel is on the road to recovery, as evidenced by the forecasts, insights and turnout at the Global Business Travel Association’s 2021 Convention held last week in Orlando, FL.
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GBTA s annual Business Travel Index has pegged 2025 as the year global business travel volume will surpass its $1.4 trillion peak from 2019, after being felled by the Covid-19 pandemic in 2020.
The study, conducted in partnership with Rockport Analytics, estimates that global business travel volumes fell 51.5 per cent versus 2019. That s 10 times worse than the business travel slump that followed 9/11 or the Great Recession in 2008.
GBTA research director Chris Ely said 2021 will continue to be a year of survival for the business travel industry, but recovery toward the back half of the year should deliver a significant boost.
The study projected 21 per cent growth in global business travel volumes in 2021, followed by roughly 38 per cent growth in 2022, which would elevate global business travel spend back to $1.2 trillion, but still shy of full recovery.
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GBTA s annual Business Travel Index has pegged 2025 as the
year global business travel volume would surpass its $1.4 trillion peak from
2019, after being felled by the Covid-19 pandemic in 2020, which the study
estimates reduced global business volume by 51.5 percent versus the prior year.
That s 10 times worse than business travel losses that followed 9/11 or the Great
Recession in 2008. GBTA partnered with Rockport Analytics to produce the
report.
GBTA research director Chris Ely said 2021 will continue to be a year of survival for the business travel industry, but recovery
toward the back half of the year should deliver a significant boost. The study