Global business travel spend is set to exceed pre-pandemic levels by the end of this year, and the World Travel Tourism Council WTTC says the reason is that companies find it better to do business face-to-face.
According to a report by the WTTC, corporate travel spend should reach US1,5 trillion R26,2trn by the end of the year.
Corporate travel's post-pandemic recovery had lagged leisure travel, but it is now showing surprising growth, particularly in spending.
After a challenging few years, business travel is not only back on track, but it is recovering much faster than expected, highlighting the importance of international travel for businesses around the world, said WTTC President and CEO, Julia Simpson , at the WTTC's 24th Global Summit in Perth.
In 2023, leisure travel spend was only 2,9 behind pre-pandemic levels, while business travel lingered at 5,4 below pre-pandemic levels.
