Business class has resumed. Report released this weekConsulting firm Deloitte said U.S. business travel could soon surpass pre-pandemic levels, in a sign that frequent flyers are continuing to return to the skies. Seventy-three percent of people surveyed expect their business travel to increase this year, up 15 percentage points from 2023.
“By the end of 2024, U.S. corporate spending is expected to reach and likely exceed 2019 levels,” Deloitte said in its annual corporate travel survey.
Meanwhile, the report says the overall number of people traveling is declining. People who travel are traveling more frequently: Half of those surveyed who are responsible for travel and expense budgets say their teams will travel more frequently in 2024 than they did last year. Among “frequent travelers” who take 10 or more business trips a year, one in five also travels at least once a month. (Plus, airfare and hotel costs are higher than they used to, according to Deloitte. In an earnings commentary this week, United Airlines He made it clear that Road Warrior was key to his business diversification efforts.
In the early days of the COVID-19 pandemic, social distancing, remote work and meetings, and fears of infection led to significant restrictions on business travel. I never thought I'd go on a business trip again..
But customer demands, a resurgence in meeting attendance and competitive pressures are taking a back seat to these factors, Deloitte said.
