DENVER — Global business travel spending is projected to reach a new historical high of US$1.57 trillion in 2025, according to new stats released by the Global Business Travel Association (GBTA).
This represents a moderate year-over-year growth rate of 6.6%, as global spending is expected to slow this year due to trade tensions, policy uncertainty and economic pressures.
A rebound to 8.1% growth is projected for 2026, while long-term forecasts remain clouded by geopolitical and economic volatility.
Despite near-term challenges, global spending is projected to surpass $2 trillion by 2029 – one year later than anticipated a year ago – driven by structural shifts in trade, investment, and corporate travel behaviour.
The stats are all included in the latest edition of the GBTA Business Travel Index Outlook – Annual Global Report & Forecast. The report serves as a five-year forecast on business travel spending covering 72 countries and 44 industries and includes insights from 7,300+ global business travellers.
Now in its 17th edition and in partnership with Visa, the latest forecast reflects a continued recovery in nominal terms but signals growing headwinds from global trade tensions and economic uncertainty, says GBTA CEO, Suzanne Neufang.
“As we thoughtfully anticipate reaching a new high in business travel spending this year, the outlook is steady – but the road ahead is more complex,” said Neufang. “Trade policy uncertainty, inflationary pressures, and shifting global supply chains are reshaping how and where companies travel. This latest forecast reflects the resiliency of business travel and our industry as well as the acknowledgment of the risks ahead.”
According to the GBTA BTI, spending is projected to grow in 2027 by 6.4% and 6.3% in 2028, modestly higher than forecast a year ago.
The pace and trajectory of this growth, however, will depend heavily on the resolution – or escalation – of global trade tensions.
A global survey of over 7,300 business travellers across 33 countries in North America, Europe, Asia Pacific, Africa, Latin America and the Middle East reveals continued evolution and confidence in the value of traveling for work.
Here’s a look …
- Business travel is seen as valuable, with 86% rating their trips as worthwhile. Primary trip purposes cited vary by region, with training and conferences topping the list globally.
- Most travellers (74%) took between one and five trips in the past year, and over 80% say they are travelling for work as much or more than before 2019.
- Average trip spending rose to US$1,128 (up from $834 in the 2024 survey).
- Expense systems are common (67% use them), and comfort with artificial intelligence booking tools is growing, especially in Asia Pacific (78%).
- Corporate card access rose to 69%, led by North America (73%). However, only half of cardholders are required to use them. Mobile wallet use is also up, with 64% adoption globally and 72% in Asia Pacific.
