Global Business Travel and Events Costs Expected to Remain Elevated Through 2024, Reflecting ‘True New Cost of Travel’

GBTA | August 10, 2023

Global business travel and events costs are set to climb higher through the remainder of 2023 and into 2024, albeit at a much more moderate pace than the exceptionally steep increases seen in 2022. This is according to the 2024 Global Business Travel Forecast, published today by CWT, the business travel and meetings specialist, and the Global Business Travel Association (GBTA), the world’s largest business travel trade organization. Rising fuel prices, labor shortages, and supply chain challenges, coupled with red hot demand, caused travel prices to skyrocket in 2022 – far surpassing some of the increases outlined in last year’s for...