Business travel demand expected to surge in 2022, but full recovery still two years away

business travel demand expected to surge in 2022 but full recovery still two years away

Sumary of Business travel demand expected to surge in 2022, but full recovery still two years away:

  • istocksdaily | iStock | Getty ImagesBusiness travel spending worldwide will likely jump more than 37% next year to over $1 trillion but the normally lucrative industry won’t fully recover until 2024, according new industry forecast released Wednesday.
  • Surges of Covid cases and new variants, uneven vaccination rates and supply chain problems hurt this year’s recovery, according to the Global Business Travel Association’s new forecast.
  • Business travel spending this year will likely rise 14% from 2020 to $754 billion, slower than the 21% year-over-year increase it forecast in February.

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