Regional spend is forecast to reach $414.9 billion in 2025, surpassing pre-Covid levels a year later than global spend on business travel, which is expected to reach $1.5 trillion in 2024 and nearly $1.8 trillion by 2027.
Western Europe accounts for 88 per cent of the region's business travel spend, with Emerging Europe heavily impacted by the war in Ukraine.
Overall, business travel spend in Europe is expected to reach 90 per cent of 2019 levels this year and remain the third biggest regional spender, accounting for nearly a quarter of global business travel spend.
The Business Travel Index Outlook report notes that several major European markets continue to lag behind regional recovery, including Germany, which hit 65 per cent of 2019 levels last year and is forecast to reach 89 per cent this year, and the UK, which was 57 per cent recovered in 2022 and is expected to be at 82 per cent this year.
Nevertheless, Germany is expected to remain the third largest market globally for business travel spend in 2023 and the UK is forecast to move into fifth position.
Conversely, France, the Nordics, Spain and the Netherlands have rebounded more quickly than the European average, with the latter two forecast to exceed pre-pandemic spend in 2023.
"Organisations and their business travellers and programmes are adjusting to new changes," said Catherine Logan, GBTA regional senior vice president, EMEA and APAC.
"The hybrid work environment has brought with it new challenges. As firms and employees appreciate the benefit of in-person connections, we are seeing more travel related to internal meetings and training purposes.
"Additionally, sustainable travel options continue to be a key driver and multi-modal trips now account for almost a third of recent business trips. As a region, Europe is leading the way in offering alternative,ore sustainable solutions."
