Business travel spend is likely to return to pre-pandemic levels over the next year

Corporate travel spend as a percentage of 2019 budget, US and Europe

100

95%

85%

80

71%

60

57%

42%

40

27%

20

11%

7%

3%

0

H2

2020

H1

21

H2

21

H1

23*

H2

23*

H1

24*

H1

22

H2

22

H2

24*

100

95%

85%

80

71%

60

57%

42%

40

27%

20

11%

7%

3%

0

H2

2020

H1

2021

H2

2021

H1

2023*

H2

2023*

H1

2024*

H1

2022

H2

2022

H2

2024*

100

95%

85%

80

71%

60

57%

42%

40

27%

20

11%

7%

3%

0

H2

2020

H1

2021

H2

2021

H1

2022

H2

2022

H1

2023*

H2

2023*

H1

2024*

H2

2024*

100

95%

85%

80

71%

60

57%

42%

40

27%

20

11%

7%

3%

0

H2

2020

H1

2021

H2

2021

H1

2023*

H2

2023*

H1

2024*

H1

2022

H2

2022

H2

2024*

*Forecast