CORPORATE TRAVEL SPEND by U.S. companies is expected to grow 8 to 12 percent, reaching or exceeding pre-pandemic levels by the end of 2024, according to a
recent Deloitte study. Around 73 percent of travel managers expect their companies' travel spend to increase in 2024, while 58 percent expect further increases
in 2025, with projected gains averaging 14-15 percent each year.
Deloitte's 2024 corporate travel report, "Upward Climb with Uphill Struggles," found that live events are a top growth driver, with 6 in 10 business travelers
expecting to attend a conference, trade show or exhibition this year.
"Business travel has been slower to come back following pandemic slowdowns, but this could be the year that it accelerates to new heights," said Eileen Crowley,
Deloitte's vice chair and U.S. transportation, hospitality and services attest leader. "More employees are traveling for business-and enjoying it-underscoring
that in-person connection often remains a critical component. As companies see a renewed benefit in the opportunities business travel provides, business leaders
can capitalize on the enthusiasm and prioritize travel experiences that are valuable to both the organization and employee."