The results of the Q1 2023 Business Travel Outlook Poll released today reflect industry insights from over 600 business travel buyers, suppliers, and industry professionals, and marks the 30th poll in GBTA’s series tracking the ongoing evolution of business travel.
“GBTA continues to draw on the collective, diverse perspectives and insights across our industry to closely track the evolving state of global business travel. The return of business travel will vary across regions, sectors and companies. And despite ongoing global concerns of a recession, a majority of corporate travel managers indicate their companies are anticipating more business travel than last year,” said Suzanne Neufang, CEO, GBTA.
Here are some key highlights:
- 90% believe their employees are willing to travel for business, while 88% report feeling more optimistic about recovery compared to last month
- 78% of travel managers expect their company will take a lot more business trips in 2023
- 86% of travel suppliers expect spending by corporate customers in 2023 will be higher compared to 2022
- Travel buyers estimate their domestic business travel bookings have returned to 67% of pre-pandemic 2019 levels and international business travel bookings have recovered to 54%
- Travel suppliers report the strongest growth in client business travel spending in 2022 from these sectors: finance and insurance; professional, consulting, scientific, and technical; and software, hardware and technology
- 47% of travel suppliers report their company staffing level is smaller than it was pre-pandemic, but 65% expect staffing will increase in 2023 compared to 2022
- 78% of travel buyers say their staff size in 2023 is expected to be about the same (56%) as it was pre-pandemic or will be much or somewhat larger (22%)
- In terms of testing requirements for inbound passengers from China, 56% of all respondents support policies requiring proof of a negative COVID-19 test or recent recovery in order to enter
- 52% think these policies would lead to a significant (15%) or moderate (37%) decrease in the amount of business travel to and from China
Read the full announcement here.
Tags: GBTA
