Global spending on business travel is projected to reach a historic high of $1.57 trillion in 2025, according to the annual Business Travel Index (BTI) Outlook by the Global Business Travel Association (GBTA). This reflects a moderate annual growth rate of 6.6%, significantly lower than the double-digit increases seen in the previous two years, as global economic uncertainty and trade tensions slow down the sector’s momentum.
A Complicated Path Despite Ongoing Recovery
While the recovery continues, analysts warn that the road ahead is more complex. GBTA notes that the sector, although resilient, is increasingly influenced by factors such as political instability, inflation, and restructuring of global supply chains.
Looking ahead to 2026, spending is forecast to grow by 8.1%, with long-term projections suggesting global business travel spending will exceed $2 trillion by 2029—one year later than previously estimated. The delay is largely attributed to geopolitical tensions and revised trade policies, which are leading companies to adopt more cautious travel strategies.
Top Markets: US and China Lead the Way
In 2025, the top 15 global markets are expected to account for $1.31 trillion in business travel spending. The United States will reclaim the top spot with $395.4 billion, followed by China at $373.1 billion. Rounding out the top five are Germany, Japan, and the United Kingdom. Emerging markets showing strong growth include India, South Korea, and Turkey, while Spain and the Netherlands are projected to see low or even negative growth.
Sector-Specific Trends
Manufacturing and trade sectors face higher risks due to their sensitivity to global trade conditions and current uncertainty, which is limiting executive travel.
In contrast, services industries like Professional Services and Entertainment have surpassed pre-pandemic travel levels.
Strong momentum is seen in the Mining and Information Technology sectors.
Agriculture, however, remains constrained due to limited access to export markets.
What Business Travelers Are Saying
The BTI Outlook also includes survey data from 7,300 business travelers across 33 countries:
86% say business travel is “valuable.”
Most traveled 1 to 5 times in the past year.
80% now travel as much or more than pre-pandemic levels.
The average trip cost in 2025 has risen to $1,128, up from $834 in 2024. There is also growing adoption of digital tools:
67% use expense management systems.
69% have a corporate card (73% in North America).
64% use a mobile wallet.
In the Asia-Pacific region, the use of digital tools and AI is particularly strong.
The Digital Experience Matters
GBTA highlights that a seamless digital experience is now crucial. Corporate travelers increasingly expect simplicity, flexibility, and security in managing payments and expenses.
Despite the challenges, business travel is proving to be resilient and adaptive, evolving in response to the changing needs of companies in an increasingly uncertain global environment.
