Looking at global spending on business travel, the report has some good news and some bad news. On the positive side, business travel spending grew to $1.34 trillion in 2023, a 30-percent increase over 2022. That total is expected to rise more than 10 percent to $1.48 trillion in 2024, which will be an all-time high and the first time that annual global spending surpassed pre-pandemic levels. However, when researchers account for inflation, the growth isn’t as remarkable.
