Business Travel Statistics [2007-2024]: Market & Trend Data Analysis

Key Enterprise Journey Statistics

• Over $1 trillion is spent yearly on enterprise journey worldwide.
• Enterprise professionals anticipate 25% extra income generated from in-person collaboration over digital conferences.
• China has the best enterprise journey spending at $360 billion in 2022.
• The most important share of enterprise journey spending goes in direction of lodgings, with meals coming in second.
• The typical enterprise traveler is a 42-year-old male, however that’s altering as extra younger folks and extra girls are happening company journeys than ever earlier than.

Enterprise Journey Spending Statistics

In 2019 (earlier than the pandemic), the enterprise journey business accounted for $1.4 trillion in international spending. Whereas 2022 spending was nonetheless lagging on account of pandemic restoration ($1.03 trillion), the Global Business Travel Association (GBTA) predicts enterprise journey spending will surpass pre-pandemic ranges in 2024 and proceed to develop to $1.8 trillion in 2027.

With a lot being spent, the enterprise journey market is a big financial power. Not solely does company journey inject cash into the tourism business and native economies, it additionally results in improved productiveness and earnings. Even on the earth of Zoom and telecommuting, the necessity for enterprise journeys isn’t going away anytime quickly.

It’s telling that firms carve out a big funds for company journey spending. Clearly, there’s an anticipated return on funding for firms to be keen to make the spend, particularly for the reason that common enterprise journey is commonly costlier than leisure journey.

In line with the ACCOR Business of Travel Report, enterprise professionals anticipate 25% extra income generated from touring for in-person collaboration over digital conferences.

It’s price understanding how a lot is spent on enterprise journey, the place that cash goes, and when firms resolve enterprise journey is price it.

Listed here are the important thing enterprise journey spending statistics to grasp the financial impacts of the enterprise journey business.

Enterprise Journey Spending by Nation

International enterprise journey spending is extremely concentrated in just a few nations with industrial economies, with China and the USA far outpacing the remainder of the world.

Listed here are the highest 15 nations for enterprise journey spending in line with the 2023 Business Travel Index Outlook from the GBTA.

It’s no shock that, with just a few exceptions, these identical nations are additionally the best ranked for GDP. Apparently, Russia is the one nation within the prime ten for GDP that doesn’t seem on this checklist.

Enterprise vacationers are nearly universally touring inside or between these 15 nations.

The remainder of the world mixed solely provides $207 billion to the entire international enterprise journey spending. As with many different metrics, this reveals how a lot the world’s financial exercise and wealth is concentrated inside just a few areas. These 15 nations make up solely about half the worldwide inhabitants, however they account for 85% of the worldwide enterprise journey spending.

Enterprise Journey Spending Classes

Enterprise journey may be damaged into a number of spending classes to see the place firms are spending probably the most cash. The chart beneath reveals the entire 2022 spending throughout 5 classes in line with the GBTA.

It’s simple to imagine that airfare can be the main expense for enterprise journeys. In actuality, it’s solely third on the checklist after lodging and meals. Lodging is the most important spending by far for company journey, accounting for greater than double the quantity of every other class.

Enterprise Journey Spending vs Leisure Journey Spending

Whereas enterprise journey is a big business, leisure journey is even greater. The desk beneath reveals complete journey spending divided between enterprise and leisure journey in line with Statista.

On common, solely 15.2% of journey spending comes from enterprise journey. 84.8% is from leisure journey.

Nonetheless, that breakdown will not be constant throughout all journey industries. Inns, eating, and vacationer actions usually make way more cash from leisure vacationers, however many airways truly earn a bigger share of income from enterprise vacationers.

In line with Investopedia, solely 12% of airline passengers are enterprise vacationers. Nonetheless, as a result of enterprise vacationers pay larger charges, extra typically guide last-minute, and usually tend to fly first-class, they will account for as much as 75% of airline earnings.

Whereas many leisure vacationers attempt to save as a lot cash on airfare as attainable, companies are sometimes extra more likely to spend additional for upgraded enterprise journey consolation.

Analysis from Business Traveler discovered that 33% of worldwide enterprise journey flights are in premium class, and 13% of home enterprise journey flights are in premium class.

Whereas leisure journey is considerably bigger, enterprise journey spending remains to be a essential part of the journey business.

Enterprise Traveler Demographics

Historically, the vast majority of enterprise vacationers match inside a really distinct demographic. The typical enterprise traveler is a 42-year-old man.

However instances are altering. Youthful folks and ladies are touring extra for enterprise, and these tendencies will doubtless change what enterprise journey appears like sooner or later.

Listed here are the important thing enterprise journey statistics regarding traveler demographics.

Enterprise Traveler Age

Usually, folks touring for enterprise usually tend to be in additional superior roles of their profession, and folks in management roles typically journey greater than others.

Enterprise Vacationers by Age

The overwhelming majority of enterprise vacationers are of their 30s and 40s—people who find themselves within the stage of working up the ladder of their profession. The typical age for enterprise vacationers is 42.

Nonetheless, in line with market analysis by Skift, the common age of enterprise vacationers is step by step shifting downward, and extra youthful persons are touring for work.

It will have dramatic impacts on the enterprise journey market, as youthful vacationers choose Uber over taxis, trip leases over lodges, and are much less more likely to make reserving selections based mostly on journey loyalty applications.

Enterprise Traveler Gender

Traditionally, company vacationers have dominantly been males. A Bureau of Transportation Statistics report discovered that 77% of enterprise vacationers that 12 months had been males.

Nonetheless, that pattern is starting to vary. The desk beneath compares 2001 gender breakdown with up to date 2022 statistics for enterprise vacationers.

Gender Distinction in Enterprise Journey Over Time

In 2022, 37% of enterprise journeys had been made by girls. That’s up 14% from the 2021 figures.

As workplaces around the globe make gradual progress towards gender equality, girls will take extra enterprise journeys than ever earlier than.

Apparently, whereas enterprise vacationers are more likely to be males, the alternative is true for leisure journey, in line with analysis by Forbes. The desk beneath reveals a comparability of the gender breakdown in enterprise journey and leisure journey.

Gender Distinction in Leisure and Enterprise Journey

64% of vacationers on leisure journeys are girls.

The demographics for enterprise and leisure journey usually are not aligned. The place the common enterprise traveler is a 42-year-old man, the common leisure traveler is a 47-year-old lady.

Clearly, girls are extra apt to journey than males exterior the office, and the one motive that males usually tend to journey for work is because of general gender inequality in enterprise. It will likely be fascinating to see if girls surpass males in enterprise journey as firms transfer in direction of gender equality in workplaces.

Yearly Enterprise Journey Developments

As with most industries, enterprise journey has been rising steadily. As firms proceed to develop globally, worldwide collaboration will turn out to be extra necessary, and enterprise journey will turn out to be much more important.

The desk beneath reveals the worldwide enterprise journey spending over time from 2007 to 2022 in line with Statista.

Previous to COVID-19, the one latest drop in enterprise journey spending occurred in 2009, through the recession. From 2008 to 2009, enterprise journey spending dropped 5.7%.

Over the subsequent 10 years, enterprise journey spending elevated by 63% and peaked at $1408 billion in 2019. This progress was adopted by a large drop, because the COVID-19 pandemic put a damper on journey.

From 2019 to 2020, enterprise journey spending dropped 53% on account of pandemic journey bans.

Whereas the journey business as an entire has recovered shortly from the pandemic, enterprise journey has had a slower return to pre-pandemic ranges in line with Deloitte Insights.

Nonetheless, development is on the way in which. International enterprise journey spending is anticipated to surpass pre-pandemic ranges in 2024 and proceed to develop.

“Bleisure” Statistics

In recent times there was a rise in enterprise vacationers taking part in leisure actions or asking so as to add additional time to their enterprise journeys to take pleasure in free time at their vacation spot. This rising type of enterprise tourism has earned the nickname “bleisure.”

Bleisure journeys ought to turn out to be a extra necessary consideration for company journey managers when designing an organization’s journey coverage. When enterprise vacationers spend extra time as vacationers at their vacation spot, they’re extra more likely to see company journeys as a perk of their job slightly than a burden.

The Expedia Group carried out a survey of over 2,500 bleisure travelers worldwide, and I’ve unpacked the important thing statistics from their report that it’s essential know.

Bleisure Journey Size

Since bleisure includes combining tourism, downtime, and leisure with enterprise journey, no two journeys are the identical. There are particular tendencies within the bleisure market although.

The primary necessary pattern is that bleisure is changing into more and more fashionable. On common, 60% of enterprise journeys embody time added on for leisure.

The size of a enterprise journey is necessary for vacationers deciding whether or not so as to add on leisure time to company journey. The desk beneath reveals a breakdown of bleisure vacationers based mostly on the size of keep for enterprise.

Enterprise Journey Size

The massive majority of enterprise journeys that flip into bleisure journeys are 2 or 3 nights. 50% of survey respondents stated they had been most probably to increase enterprise journey for leisure in the event that they needed to keep 2-3 nights. This time solely contains the enterprise journey portion of the journey, and most of the people including leisure time into a visit will spend a number of additional days.

When including leisure onto company journey, folks spend 3.9 working days and a couple of.9 leisure days on common. Meaning leisure time can almost double the size of a visit.

Bleisure Journey Vacation spot Statistics

Worldwide enterprise journeys and home enterprise journeys are equally more likely to turn out to be bleisure journey. 51% of home enterprise journeys are bleisure journeys, and 52% of worldwide journeys embody bleisure.

The vacation spot additionally issues for enterprise vacationers when contemplating including leisure time to company journey. The desk beneath reveals the highest options of a vacation spot that make a enterprise traveler extra doubtless so as to add leisure time to their journey.

Bleisure Vacation spot Priorities

In line with this analysis from Expedia Enterprise Group, good meals, seashores, pure sightseeing, and good climate are the highest concerns that make for a well-liked bleisure vacation spot.

Bleisure Traveler Statistics

The variety of enterprise vacationers together with leisure in enterprise journeys varies by occupation. The desk beneath reveals the highest 5 occupation classes for bleisure journey.

Bleisure Traveler Occupations

By far probably the most bleisure vacationers work in expertise, IT, or software program. On the whole, expertise employees journey greater than most different professions, which is a key motive for why expertise employees usually tend to embody leisure time of their travels.

One other method to characterize bleisure vacationers is by how regularly they depart on enterprise journey.

Enterprise Journey Frequency of Bleisure Vacationers

Most enterprise vacationers including leisure to a company journey are those that take enterprise journeys each 2-3 months. The typical bleisure traveler takes 6.4 enterprise journeys annually.

Sources and Methodology

This report relies on a complete and in-depth evaluation of enterprise journey spending, demographics, geographic tendencies, and yearly tendencies. I gathered this information from market analysis corporations, tutorial research, and authorities companies.

The GBTA 2023 Business Travel Index Outlook, ACCOR Business of Travel Report, and Expedia’s Bleisure Travel Trends Report had been key sources of data for understanding the panorama of enterprise journey and the tendencies within the business.

Different key sources for the enterprise journey tendencies and demographics on this report embody the Global Business Travel Association, Bureau of Transportation Statistics, Statista, Forbes, Business Traveler, and Investopedia. Any sources not included listed here are cited immediately within the textual content.

There’s a large quantity of data and information obtainable throughout these sources, however it’s disjointed and sometimes tough to interpret. I compiled uncooked information and particular person findings from these sources right into a single cohesive useful resource.

I used this big selection of data to generate the tables, graphs, and statistics on this report.