The coronavirus pandemic hit the global business tourism industry hard as the ability to travel was limited in order to reduce the spread of the virus. As a result, allocations for business-related travels changed depending on the purpose of the trip. According to a December 2020 survey, respondents projected that in 2021 their companies would allocate 30 percent of the total business travel spending on sales or account management meetings with customers, an increase of six percent from 2019. In comparison, spending on conferences, trade shows, and industry events will decrease by five percent in 2021, compared to 18 percent in 2019.
Average share of business travel spending in 2019, with a forecast for 2021, by purpose
*Forecast data.
Survey count for 2019: n=208-209
The survey questions were phrased by the source as follows:
"In 2019 (before the Covid-19 pandemic) approximately what percent of your company’s travel spend was allocated for each of these purposes?"
"Thinking about your company’s 2021 travel spend, approximately what percent of likely be allocated to the following purposes?:
Missing percentage points to 100 percent are probably due to rounding.
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GBTA. (December 17, 2020). Average share of business travel spending in 2019, with a forecast for 2021, by purpose [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/
GBTA. "Average share of business travel spending in 2019, with a forecast for 2021, by purpose." Chart. December 17, 2020. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/
GBTA. (2020). Average share of business travel spending in 2019, with a forecast for 2021, by purpose. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/
GBTA. "Average Share of Business Travel Spending in 2019, with a Forecast for 2021, by Purpose." Statista, Statista Inc., 17 Dec 2020, https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/
GBTA, Average share of business travel spending in 2019, with a forecast for 2021, by purpose Statista, https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/ (last visited November 21, 2024)
Average share of business travel spending in 2019, with a forecast for 2021, by purpose [Graph], GBTA, December 17, 2020. [Online]. Available: https://www.statista.com/statistics/1194857/business-travel-spending-by-purpose/
