Corporate travel budgets are rebounding to pre-COVID levels: Morgan Stanley

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A survey by Morgan Stanley Research has revealed that corporate travel budgets are rebounding to pre-COVID levels. The survey which interviewed 100 global corporate travel managers found that “many respondents believe their company’s travel expenditures are already back to pre-COVID levels and will continue to grow”.
“Most interesting is that nearly half of the respondents expect 2023 budgets to increase versus 2019 overall. And of those that expect an increase in budgets, the majority believe 2023 budgets will be between 6 per cent to 10 per cent higher than 2019,” said Ravi Shanker, an Equity Analyst covering North American transportation.