33+ Business Travel Statistics for 2024

Welcome to our curated and vetted list of 33+ business travel statistics for 2024.

Here’s a quick breakdown of what we’ll cover:

Top Business Travel Statistics

• In 2021, the global business travel market was worth $689.7B, and it’s expected to grow to $2.1T by 2031, with a 9.5% CAGR between 2022 and 2031.
• Global business tourism spending reached an estimated $1,357B in 2023, and it’s forecast to reach $1,782B in 2027.
• It’s estimated that US travelers will take 447M domestic business trips in 2024.
• Business travelers typically take about 1.8 trips monthly.
• In 2022, attending daily business meetings and events cost corporate travelers $160.
• Business travelers typically spend $1,018 per trip.

Business Travel Volume and Frequency

01. It’s estimated that US travelers will take 447M domestic business trips in 2024.

02. In 2024, the US is expected to see an 8% increase in domestic business trips compared to the previous year.

03. Business travelers typically take about 1.8 trips monthly.

04. Business travelers typically spend $1,018 per trip.

Sources: GBTA, Statista, US Travel Association #1, US Travel Association #2

Global and Regional Business Travel Spending

05. In 2021, the global business travel market was worth $689.7B, and it’s expected to grow to $2.1T by 2031, with a 9.5% CAGR between 2022 and 2031.

06. By 2024, global business travel is predicted to rebound to its pre-pandemic level of $1.4T and expand to almost $1.8T by 2027.

07. Global business travel spending will rise by 12.2% in 2024.

08. In 2023, China’s business travel spending was expected to hit $360.756B, with the US following at $329,123B.

09. Business travel made up 24.6% of the US’s tourism spending in 2022.

10. Though just 20% of trip volume, business travelers represent 40–60% of air and lodging revenue in the travel industry.

11. Business travel directly supported 1.3M jobs in 2022.

12. Amazon’s US air ticket purchases totaled $483M in 2022, making it North America’s top corporate travel spender.

13. The global meetings industry is expected to reach around $1.35B by 2024.

Sources: Allied Market Research, Business Travel News, GBTA, Next Move Strategy Consulting, Statista #1, Statista #2, US Travel Association

Costs and Expenditures in Business Travel

14. In 2022, attending daily business meetings and events cost corporate travelers $160.

15. The average business airfare ticket price was $749 in 2022.

16. In 2022, the average daily hotel rate for business travel was $161.

17. In Q4 2022, New York became the world’s most expensive city for business tourism, with an average daily cost of over $645.

18. In 2022, Fort Lauderdale was the US’s most expensive city for business travel in terms of car rental costs.

Sources: Business Travel News #1, Business Travel News #2, Skift

Corporate Travel Policies

19. Some 86% of employees report that today’s uncertain economy affected their company’s business travel.20. As of Q1 2023, 83% of executives view business travel as essential.

21. Over a third (38%) of workers believe business travel is crucial for keeping abreast of the latest trends, technology, and advancements.

22. A significant 62% of global business travelers feel they’ve lacked equal business travel opportunities compared to colleagues, often due to age, accent, or gender.

23. Nearly 35% of executives feel reduced business travel hinders their company’s competitive edge.

24. About 46% of corporate execs cite critical relationships as the top factor in authorizing travel for client visits.

25. Budget constraints within the company or department (36.5%) are the leading factor for restricting business travel.

26. The top reasons for business travelers skipping or calling off air trips for customer visits in the last year were the total flight time (40%) and the risk of delays or cancellations (26%).

27. Most executives (75%) favor employees extending business trips for leisure, with 86% endorsing remote work from anywhere.

28. Nearly half (45%) of business travelers add at least one leisure night to their business trips.

29. The main reason for extending business trips for leisure is exploring the destination (36%), followed by already-paid transport costs (31%).

30. Almost half (48%) of business travelers choose their own booking platforms.

31. Two-thirds (66%) of business travelers worldwide receive a corporate credit card from their company.

32. About 64% of business travelers with a corporate card add it to a mobile wallet.

33. Most (91%) business travelers would refuse an assigned trip if it conflicted with their needs, values, and preferences.

Sources: Concur, GBTA, Morning Consult, SAP News, US Travel Association

Stacking It All Up

That concludes our deep dive into business travel statistics.

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Max Woolf

As a Digital PR specialist and a member of the Society of Professional Journalists (SPJ), I have 5+ years of writing experience.
Over the course of my career, my work has garnered significant attention, with features in numerous prominent publications such as The New York Times, Forbes, Inc., Business Insider, Fast Company, Entrepreneur, BBC, TechRepublic, Glassdoor, and G2.