The global business travel industry continues its progress towards full recovery to 2019 pre-pandemic spending levels of USD $1.4 trillion, but recovery has hit some headwinds. Just as many Covid-related recovery conditions have improved, many macroeconomic conditions deteriorated rapidly in early 2022. These new developments are impacting the timing, trajectory and pace of business travel’s recovery, both globally and by region, pushing the forecast for full recovery into 2026 instead of 2024 as previously forecasted.
