GBTA: Business travel spending to reach USD1.57tr in 2025, up 6.6%

Global Business Travel Association (GBTA) released (21-Jul-2025) its 2025 Business Travel Index Outlook report, providing a five year forecast on business travel spending covering 72 countries and 44 industries. Details include:

• Global business travel spending is projected to reach USD1.57 trillion in 2025. This represents "moderate" year-on-year growth of 6.6%, as global spending is expected to slow due to trade tensions, policy uncertainty and economic pressures. A rebound to 8.1% growth is projected for 2026, while long term forecasts remain "clouded by geopolitical and economic volatility";
• Despite near term challenges, global spending is projected to surpass USD2 trillion p/a by 2029, one year later than anticipated in 2024, driven by structural shifts in trade, investment and corporate travel behaviour. Spending is projected to grow by 6.4% in 2027 and 6.3% in 2028, "modestly" higher than forecast in 2024;
• The top 15 markets for business travel spending represent USD1.31 trillion. The two top markets, the US (USD395.4 billion) and China (USD373.1 billion), represent 58% of the total;
• The US is projected to reclaim the top spot in 2025, followed by China (which led the list in 2024 and 2023), Germany, Japan and the UK;
• India, South Korea and Türkiye are among the fastest growing of the top 15 markets, while Spain and the Netherlands are forecast to have "little to no growth or a slight decrease".

GBTA CEO Suzanne Neufang stated: "As we thoughtfully anticipate reaching a new high in business travel spending this year, the outlook is steady, but the road ahead is more complex". Ms Neufang added: "Trade policy uncertainty, inflationary pressures and shifting global supply chains are reshaping how and where companies travel". [more - original PR]