Business Travel: Full Recovery Expected by 2025
Financial impact of global travel decline expected to be 10x the Great Recession and 9/11
GBTA released its annual BTI™ Outlook, a detailed analysis of business travel in 2020, with projections for 2021 and beyond. The BTI™ Outlook, now in its 12th year, is an exhaustive study of business travel spending and growth covering 75 countries across 48 industries.
The true global financial impact of COVID-19 began in Q2 2020, resulting in an expected 68% decline (to $738 billion USD) from April 1, 2020 to the end of the year. Because of the relatively strong (pre-COVID) first quarter of 2020, global spending on business travel is expected to show a 52% decrease for all of 2020 (to $694 billion USD), down from $1.4 trillion USD in 2019.
Key findings of GBTA’s BTI™ Outlook include an analysis of 2020 challenges for the business travel industry as well as a recovery forecast.
The GBTA BTI™ Outlook Was Made Possible by Enterprise
Save the Date for an All-New Complimentary Virtual Event:
Ready. Safe. Travel. Summit
Wednesday, February 17 | 10:00 AM – 1:00 PM EST
GBTA’s Ready. Safe. Travel. (RST) advocacy campaign premiered in November 2020 as the Association’s effort to unite the global business travel industry and drive momentum toward a full recovery. The Ready.Safe.Travel. Summit’s purpose is to educate and prepare our membership and the industry for the evolution of business travel as a result of the on-going pandemic. As we head into 2021, much has changed and is continuing to impact our industry.
Many factors continue to challenge our industry and create more questions: government response to COVID, vaccine distribution, new variants, global entry policies and quarantine rules, etc. The RST Summit will ensure we address these relevant and timely issues and continue to move forward our industry.
Do You Manage European Travelers? Don’t Miss Next Week’s Webinar:
The ABC of A1 Registration and the Posted Worker Directives
Thursday, February 11 | 2:00 PM GMT
The A1 registration for business trips in the EU/EFTA as well as the posted worker requirements pose challenges to companies, employees, and travel managers alike.
These are complex and increasingly enforced pieces of legislation. Join this webinar to understand:
- The background to A1 / the Posted Worker Directives
- What does it mean for employers?
- What are the challenges?
- What are the possible solutions?
Evaluate Your Travel Program in an All-New Webinar:
Ford or Ferrari? What Are You Driving in the Race to the Return of Corporate Travel?
Tuesday, February 23 | 11:00 AM – 12:00 PM EST
Spend, culture and industry that are all factors in determining the vehicle best suited for your organization. Especially during these uncertain times, how do you know if your program has what it takes to go the distance and take your travelers and your business to the winner’s circle?
Join us as we explore what travel managers can do to assess, benchmark and improve their travel and expense programs.
Director of Sales
The Director of Sales will provide overall leadership to the Sales Team, be responsible for strategically soliciting and developing new accounts, maintaining excellent rapport with existing accounts and successfully promoting the hotel to the community. The ideal candidate will have a minimum of five years of progressive sales experience, preferably in the hospitality field. Relative franchise experience a plus. We are seeking a detail-oriented, professional individual with excellent sales techniques who will meet or exceed budgeted goals and responsibly manage all aspects of the Sales department in accordance with the standards and franchise (if applicable.)
Trending Industry News
Aviation Industry News
Aeromexico Returns Its First Boeing 787 After Just 7 Years (SIMPLE FLYING)
Thousands of New York Area Flights Canceled Ahead of Snow Storm (SIMPLE FLYING)
Ground Transportation Industry News
ACRA Asks Congress for $3.64B in MAG Relief (AUTO RENTAL NEWS)
Hospitality Industry News
Marriott International’s First UK Dual-Brand Property Opens in Slough (TRAVEL DAILY NEWS)
Hyatt Debuts in Brisbane (BUSINESS TRAVELLER)
More Industry News
Global Business Travel to Grow 21% in 2021, Trade Group Forecasts (REUTERS) – FEATURES GBTA
Time Is Running Out! Don’t Miss the Chance to Nominate an Industry Peer for a WINiT Award!
Deadline to nominate is Friday, February 5.
GBTA is now accepting nominations in 7 categories, including Top 40 Women in Travel. Any global organization or individual that works in travel-related industries can submit a no-cost nomination.
WorldAware Intelligence Brief
Centers for Disease Control and Prevention (CDC)
Transportation Security Administration (TSA)
Was this email forwarded to you? Please sign up to receive GBTA emails.
Global Business Travel Association
1101 King Street, Suite 500, Alexandria, VA 22314, USA
phone: +1 703 684 0836 | web: gbta.org
Update your GBTA email preferences
Copyright © 2021, All rights reserved.