Business travelers account for a considerable proportion of the travel and tourism industry globally.
As more companies expand into the global market, there has been a significant increase in the number of business travelers all around the globe.
Although COVID-19 is still with us, organizations are moving forward as they believe that travel adds to the company’s growth and a large majority of employees see business travel as an opportunity to grow in their career, while others see it as a chance to enjoy some leisure time away from their hectic work routines.
Companies recognize that their employees enjoy these business trips and are often willing to pay big bucks for travel, room, food, and transportation to make them more comfortable.
Business travel statistics reveal that corporate travel has grown to $1.6 trillion in 2020 and is projected to reach $1.7 trillion in 2022.
We shall now hop into the 30 most captivating business travel statistics you need to know to show you where the global business travel market is headed. Let’s get started!
Notable Business Travel Statistics
- More than 445 million business trips are made every year worldwide.
- Around $1.33 trillion was spent on business travel worldwide in 2017.
- 30% of job seekers are willing to take low-paying jobs that involve travel.
- Business travelers account for 12% of the passengers on a plane.
- An average of $949 is spent on business travel per trip.
- More than 90% of corporate travel managers believe that business trips are crucial for business growth.
- 65% of the Millennials business travelers see business trips as a status symbol.
- The daily average cost of business traveling is 325 USD in the US.
- Hong Kong is the most expensive business travel location in Asia, with an average cost of 515 USD per day.
- Companies get a $9.50 increase in revenue for every dollar spent on corporate travel.
- According to the National Travel Association, annual global travel spending is projected to reach $1.7 trillion by 2022.
- Due to the pandemic, corporate travel spending lost $829 billion.
- The global market for business travel is predicted to post a CAGR of 3% from 2020 to 2027.
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General Business Travel Statistics
Let us have a look at these 30 most captivating business travel statistics:
1. More than 445 million business trips are taken every year
Over the last few decades, business trips have become more and more prevalent due to increasing globalization.
Millions of corporate travel initiatives are launched every year all across the globe. According to some general business travel statistics, roughly 445 million business trips are made annually.
2. U.S. spend $322.42 billion on business travel in 2021 business travel
The United States is the leader globally when it comes to business tourism spending. According to World Bank data, the United States employed $322.42 billion on business trips in 2021.
The cost differs significantly between domestic and international travel. A domestic business trip costs around $1293, while an international trip costs $2525.
3. 64% of the employees would accept a low salary if the position offers business travel opportunities
The latest research reveals that a staggering 30% of the employees surveyed said that they would accept a lower salary job if they could travel more for work.
These findings show that business travel is the best tool for employee retention and workforce motivation.
4. Business travelers account for 12% of the airline’s passengers
U.s airlines make the most of their revenues from travelers. Business travelers make up 12% of airline passengers, but they pay typically twice as much, accounting for 75% of the profits.
Businesses usually send their employees on business travel to earn and keep frequent flyer miles and points, which is the main source of revenue and data for the airlines.
5. Business travelers make up 40% of the hotel guests
Business travelers account for as much as 40% of hotel guests, while more than 700,000 picks Airbnb to stay.
During the pandemic, hotels lost an estimated $108 billion in business travel revenue in 2020 and 2021 combined.
6. An average of $949 is spent on business travel per trip
An average US business traveler spends about $949 on airfare, accommodation, and other expenses. This brings the average cost of domestic travel to $111.7 billion annually.
For every dollar spent, a company typically sees a $2.90 increase in profit and a $9.50 increase in sales.
7. The daily average cost of business traveling is $325 in the U.S
The United States of America is the global leader in business tourism spending.
The average per diem for an employee sent on a business trip is $325, the largest portion of which is spent on the food alone.
(Business Travel News)
8. Companies spend roughly $31.6 billion on international travels
International travels are super expensive. However, travel expenses vary in different regions of the world.
On average, businesses in the U.S spend $31.6 billion on international travel, which amounts to $2,600 per person.
9. Businesses spend around $1,425 on every employee on a business trip
It is no secret that business travel is expensive, and companies spend millions of dollars annually to send employees on business trips.
According to the latest business travel statistics, businesses spend around $1,425 to send one employee on a business trip.
10. Food accounts for 21% of the business travel expense
This business travel statistic may surprise many, but food is the biggest business travel expense, taking up 21% of the business travel budget, followed by airfare (17%) and lodging (13%).
11. 75% of business trips a less than 250 miles in length
More than three-quarters of corporate travel is to destinations less than 250 miles away.
Shorter business trips like these are often taken by road than planes, and more than 1.1 million employees travel daily for work purposes.
(U.S. Bureau of Transportation Statistics)
12. 38% of business travel in the U.S is to attend events and meetings
Around 38% of the business trips include meetings, events, and incentive travels, which amounts to $139.3 million, 42% of the total business travel spending in the United States.
13. 28.4% of all travel and tourism revenue generates corporate travel
Corporate travel is significant not only for the airlines and hotels but also for the county’s economy as well.
Business trips account for 28.4 of all travel and tourism revenue in the United States.
14. 45% of the business travel are 45 or older
When it comes to traveling for work, there’s no specific age for it. However, the business travel statistics suggest that 50% of corporate travelers are older than 45 because the majority of companies don’t want to waste their money by sending younger and inexperienced employees on business trips.
15. Travelers aged between 18-29 take 16% of all business travel
A study commissioned by the German Travel Association (DRV) in ‘Chefsache Business Travel 2018′ found that employees between the ages of 18 and 34 prefer to travel for the company compared to their older colleagues as they take 16% of business trips.
16. 45% of the business travelers in the U.S are women
Business travel statistics suggest that men are more likely to go on business trips than females, making up 60% of the total.
On the other hand, only 45% of the women go on business trips in the U.S due to constrained domestic schedules, kids, and safety issues.
17. 61% of businesses integrate leisure activities into business travel
A study found that 81% of business travelers are doing “leisure” or business that involves leisure. 61% incorporate leisure activities into business travel.
41% are turning business travel into leisure travel. 33% book vacations before or after business trips.
(National Travel Association)
18. Millennials tend to combine business travel with leisure
A millennial business traveler is 86% more likely to combine leisure with business. 76% of Gen X engage in leisure activities while traveling for business. Baby boomers are not significantly behind at 73%.
(National Travel Association)
19. 26% of all business trips last only one day
Business trips are usually very short. On average, 26% of business trips last only one day. Of course, according to the latest business travel statistics, many people prefer to combine business and leisure to expand their business and visit other places.
20. 90% plan to travel for the rest of their career
90% of those surveyed want to continue traveling until work is over. In addition, 62% of people said they enjoy traveling for business.
(Source: Sleep Junkie)
21. 50% of business travelers extend their trips to visit other countries
The number of leisure business trips has increased by 20% from 2016-17. Recent business travel statistics reveal that 50% of business trips are extended for leisure purposes or to visit other countries.
22. Post-COVID business travel spending reached $842 billion
Corporate travel is not only significant for the airlines and hotels but also for the county’s economy. Business trips account for 28.4 of all travel and tourism revenue in the United States.
23. Business travel has been hit harder by the pandemic than leisure travel
Leisure travel is projected to decline by 24% in 2020. However, leisure business travel must be reduced by up to 60%.
From March to September 2020, U.S. domestic and international business travelers’ spending declined 77% year over year. That’s a total loss of $162 billion to the U.S economy.
(Source: Getting Back to Business Report)
24. 45% of the companies canceled most international business trips to the U.S due to pandemic
American companies spend the highest amount of money to send their employees on domestic and international trips.
However, due to the COVID-19 pandemic, they also reduce the number of international trips. In a survey, 45% of employees said that their organization canceled most business trips due to the pandemic.
(Statista, GBTA Coronavirus Poll)
25. American economy lost $162 billion due to a reduction in business travel spending
During the pandemic, American airlines reported a 90% reduction in business travel in the second quarter of 2020, which resulted in a loss of $162 billion for the U.S economy.
(U.S Travel Association)
26. With an average daily cost of $515, Hong Kong is still the most expensive city in Asia for business travel
According to a new report, Hong Kong has been named the city with the highest travel costs in Asia for the second year in a row. The average daily spending is $515, which includes $286 for the hotel.
27. About two-thirds of young workers and millennials view business travel as a status symbol
Millennials think they are more able on the roads than at their desks. Nearly 66% feel that business travel is a status symbol for them.
Young colleagues need to sit in first class when traveling by train, get smart hotels, and earn miles for their private use.
(Hilton Hotels & Resorts)
28. China lost $404 billion in business travel spend losses due to covid-19 pandemic
When the pandemic hit, many companies experienced massive losses in business travel spending.
China suffered a substantial loss of $404 billion in business travel spent revenue due to the pandemic, followed by Europe, which amassed $190.5 billion in business travel spent losses.
(Global Business Travel Association)
29. Only 20% of all travel is business-related
Business travel statistics show that only 20% of all travel is work-related, and almost 60% of business trips include a leisure component.
50% of leisure trips result from business trips lasting two or three nights and 49% from destinations more than 400 miles away from the traveler’s home country.
(Expedia Media Solutions)
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30. The business travel market is anticipated to recover and hit $829.5 billion by 2027
The global business travel industry is on its way to fully recuperate from the effects of pre-pandemic spending levels of $1.4 trillion but facing some roadblocks.
The new developments and macroeconomic conditions have slowed the pace of recovery both by region and globally.
However, global spending is anticipated to recover and hit $829.5 trillion in 2027.
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Shefali Jain is a Content Editor & Writer at National Planning Cycles.
After completing her graduation in hospitality, Shefali decided to follow her passion and started writing. Shefali has been writing for two years now and contributes to our website as a skilled editor and content writer with strong research skills. Writing product and service reviews, biographies, and book reviews are some of her key areas, among many others in which she specializes.