Ana M. López
Research expert covering travel, tourism and hospitality
Global business travel - statistics & facts
Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for nearly 20 percent of the global tourism expenditure in 2023. In that year, it was estimated that business travelers spent more than 1.4 trillion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.
Business travel costs
Business trips can be more expensive than holidays. But unlike leisure tourists, business travelers are rarely expected to pay for their trips and it is usually the employer’s company that foots the bill. In the last quarter of 2024, New York was the world’s most expensive city for business travel, followed by London. New York also led the ranking in terms of accommodation, with daily hotel costs above 470 U.S. dollars. During that same period, Geneva in Switzerland was ranked as the most expensive city for business tourists by daily food costs.AI in business travel
Artificial intelligence is playing an increasingly important role in business travel, helping companies streamline booking processes, optimize expenses, and improve overall traveler experiences. In 2024, the global implementation of artificial intelligence in business travel management showed that AI had already been adopted or was considered a priority for that year by almost 60 percent of the companies of travel managers surveyed. Similarly, also that year, AI gained traction in the events sector, with the global adoption of artificial intelligence among international association events highlighting its growing influence in attendee engagement and event logistics. However, integrating these technologies into business meetings also presented challenges, such as high costs and insufficient support throughout events, which could impact their effectiveness. As AI continues to evolve, it is expected to further enhance the efficiency and convenience of business travel.
