US firms expect a sharper return to business travel than their European peers

Expected spend as a percentage of 2019 spend, US and Europe

Less than 25%

25%-49%

50%-74%

75%-99%

100%

US firms

H1 2023

8%

9%

14%

11%

58%

2%

H2 2023

38%

18%

7%

35%

1%

4%

H1 2024

45%

37%

13%

1%

4%

71%

H2 2024

24%

European firms

4%

59%

H1 2023

12%

16%

9%

1%

4%

H2 2023

27%

45%

23%

1%

H1 2024

51%

10%

38%

1%

H2 2024

31%

68%

Less than 25%

75%-99%

25%-49%

50%-74%

100%

US firms

H1 2023

8%

9%

14%

11%

58%

2%

H2 2023

38%

18%

7%

35%

1%

4%

H1 2024

45%

37%

13%

1%

4%

71%

24%

H2 2024

European firms

4%

59%

12%

H1 2023

16%

9%

1%

4%

H2 2023

27%

45%

23%

1%

51%

H1 2024

10%

38%

1%

H2 2024

31%

68%

Less than 25%

75%-99%

25%-49%

50%-74%

100%

US firms

H1 2023

8%

9%

14%

11%

58%

2%

H2 2023

38%

18%

7%

35%

1%

H1 2024

45%

4%

37%

13%

1%

71%

24%

H2 2024

4%

European firms

4%

59%

12%

H1 2023

16%

9%

1%

H2 2023

27%

4%

45%

23%

1%

51%

H1 2024

10%

38%

1%

H2 2024

31%

68%

Less than 25%

75%-99%

25%-49%

50%-74%

100%

US firms

H1 2023

8%

9%

14%

11%

58%

2%

H2 2023

38%

18%

7%

35%

1%

H1 2024

45%

4%

37%

13%

1%

71%

24%

H2 2024

4%

European firms

4%

59%

12%

H1 2023

16%

9%

1%

H2 2023

27%

4%

45%

23%

1%

51%

H1 2024

10%

38%

1%

H2 2024

31%

68%