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 very best enterprise journey spending at $360 billion in 2022.
• The most important proportion of enterprise journey spending goes in the direction of lodgings, with meals coming in second.
• The common enterprise traveler is a 42-year-old male, however that’s altering as extra younger folks and extra ladies 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 as a result 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 planet of Zoom and telecommuting, the necessity for enterprise journeys isn’t going away anytime quickly.

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

In keeping 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 corporations determine enterprise journey is price it.

Listed below are the important thing enterprise journey spending statistics to know the financial impacts of the enterprise journey business.

Enterprise Journey Spending by Nation

International enterprise journey spending is extremely concentrated in a number of international locations with industrial economies, with China and the US far outpacing the remainder of the world.

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

It’s no shock that, with a number of exceptions, these similar international locations are additionally the very best ranked for GDP. Apparently, Russia is the one nation within the high ten for GDP that doesn’t seem on this checklist.

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

The remainder of the world mixed solely provides $207 billion to the full international enterprise journey spending. As with many different metrics, this reveals how a lot the world’s financial exercise and wealth is concentrated inside a number of areas. These 15 international locations 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 could be damaged into a number of spending classes to see the place corporations are spending probably the most cash. The chart under reveals the full 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 some other class.

Enterprise Journey Spending vs Leisure Journey Spending

Whereas enterprise journey is a big business, leisure journey is even greater. The desk under reveals whole 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.

Nevertheless, that breakdown will not be constant throughout all journey industries. Lodges, eating, and vacationer actions typically make far more cash from leisure vacationers, however many airways truly earn a bigger proportion of income from enterprise vacationers.

In keeping with Investopedia, solely 12% of airline passengers are enterprise vacationers. Nevertheless, as a result of enterprise vacationers pay larger charges, extra usually e-book 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 potential, companies are sometimes extra more likely to spend further 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 vital element of the journey business.

Enterprise Traveler Demographics

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

However occasions are altering. Youthful folks and ladies are touring extra for enterprise, and these developments will seemingly change what enterprise journey seems like sooner or later.

Listed below are the important thing enterprise journey statistics referring to traveler demographics.

Enterprise Traveler Age

Typically, folks touring for enterprise usually tend to be in additional superior roles of their profession, and other people in management roles usually 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 common age for enterprise vacationers is 42.

Nevertheless, in line with market analysis by Skift, the typical age of enterprise vacationers is regularly shifting downward, and extra youthful individuals are touring for work.

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

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.

Nevertheless, that pattern is starting to vary. The desk under 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 ladies. That’s up 14% from the 2021 figures.

As workplaces all over the world make sluggish progress towards gender equality, ladies will take extra enterprise journeys than ever earlier than.

Apparently, whereas enterprise vacationers are more likely to be males, the other is true for leisure journey, in line with analysis by Forbes. The desk under 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 ladies.

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

Clearly, ladies are extra apt to journey than males outdoors the office, and the one purpose that males usually tend to journey for work is because of general gender inequality in enterprise. Will probably be fascinating to see if ladies surpass males in enterprise journey as corporations transfer in the direction of gender equality in workplaces.

Yearly Enterprise Journey Tendencies

As with most industries, enterprise journey has been rising steadily. As corporations proceed to develop globally, worldwide collaboration will develop into extra vital, and enterprise journey will develop into much more important.

The desk under 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 an enormous drop, because the COVID-19 pandemic put a damper on journey.

From 2019 to 2020, enterprise journey spending dropped 53% as a result of pandemic journey bans.

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

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

“Bleisure” Statistics

Lately there was a rise in enterprise vacationers collaborating in leisure actions or asking so as to add further time to their enterprise journeys to get pleasure from free time at their vacation spot. This rising type of enterprise tourism has earned the nickname “bleisure.”

Bleisure journeys ought to develop into a extra vital 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 performed a survey of over 2,500 bleisure travelers worldwide, and I’ve unpacked the important thing statistics from their report that it’s essential to know.

Bleisure Journey Size

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

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

The size of a enterprise journey is vital for vacationers deciding whether or not so as to add on leisure time to company journey. The desk under 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 almost definitely 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 further days.

When including leisure onto company journey, folks spend 3.9 working days and a pair of.9 leisure days on common. Which means leisure time can practically double the size of a visit.

Bleisure Journey Vacation spot Statistics

Worldwide enterprise journeys and home enterprise journeys are equally more likely to develop into bleisure journey. 51% of home enterprise journeys are bleisure journeys, and 52% of worldwide journeys embrace bleisure.

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

Bleisure Vacation spot Priorities

In keeping with this analysis from Expedia Enterprise Group, good meals, seashores, pure sightseeing, and good climate are the highest issues that make for a preferred bleisure vacation spot.

Bleisure Traveler Statistics

The variety of enterprise vacationers together with leisure in enterprise journeys varies by occupation. The desk under 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. Basically, expertise employees journey greater than most different professions, which is a key purpose for why expertise employees usually tend to embrace leisure time of their travels.

One other technique to characterize bleisure vacationers is by how often 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 common bleisure traveler takes 6.4 enterprise journeys annually.

Sources and Methodology

This report is predicated on a complete and in-depth evaluation of enterprise journey spending, demographics, geographic developments, and yearly developments. I gathered this knowledge from market analysis companies, 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 developments within the business.

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

There’s a large quantity of data and knowledge accessible throughout these sources, however it’s disjointed and infrequently tough to interpret. I compiled uncooked knowledge 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.