Spending on business travel in Europe grows by 10.4% in 2024!

“In Europe, business travel spending will see a significant increase this year compared to 2023, reaching €360.4 billion by the end of December. This is a significant increase despite a rather challenging economic environment.

In addition, by 2028, European business travel spending will increase to €476.6 billion, with Europe set to record the second fastest growth rate after the Asia-Pacific region, according to the latest Global Business Travel Association (GBTA) analysis, presented yesterday, November 5, 2024, at the Association’s Convention in Copenhagen.

Globally, business travel spending will reach €1.36 trillion by the end of 2024. The rebound is underpinned by growing interest from companies to return to face-to-face interactions, but also by inflation, which has led to significant increases in airfares and accommodation prices.

Although slower recovering countries such as Spain, Austria and the Netherlands have surpassed pre-pandemic business travel volumes, emerging Europe will see at least 5% more growth than Western Europe.

For full details and analysis of the report, visit 2024 Business Travel Index Outlook, Global Business Travel Association.