Corporate travel is set to make a full recovery in late 2024 in US and Europe, according to a Deloitte survey. The survey interviewed 334 US-based and European executives.
“Travel managers’ expectations have once again downshifted compared to the prior survey, though less dramatically. Travel managers in the United States and Europe anticipate very similar trajectories from 2022 through 2024. Altogether, about a quarter (24 per cent) of companies expect their travel spend to exceed three-quarters of 2019 levels in the first half of 2023; that figure more than doubles to 53 per cent by the second half of 2023. The share of US companies expecting to reach full recovery grows fourfold from the end of 2023 to the end of 2024,” the survey said.