According to 2024 Global Business Travel Forecast report, the costs of global business travel and events are projected to rise further from the latter part of 2023 into 2024. However, this increase is expected to be more gradual compared to the sharp upticks witnessed in 2022. “As this research outlines, rising costs and pricing pressures will likely continue to be a significant factor in business travel for the foreseeable future. And as we experienced over the past few years, we may also continue to see different pricing fluctuations across industry verticals, business sectors and global regions. While business travel continues to rebound, there will be a continuing balancing act among demand, cost and ESG concerns. So, with a forecast ahead for more volatility, our goal is to provide insights like these to help travel buyers, suppliers, intermediaries and finance executives continue to understand, evaluate and adjust their business travel strategies,” said Suzanne Neufang, CEO, GBTA.
