Global business travel and event costs are poised to stabilize, following years of sharp price hikes. According to the “2025 Global Business Travel Forecast,” released today by CWT and the Global Business Travel Association (GBTA), prices will continue to rise but at a notably slower pace in 2024 and 2025. The report attributes this deceleration to improving market conditions and a more sustainable growth trajectory.

Global Travel Prices Set for Moderate Growth Amid Industry Recovery

Patrick Andersen, President & CEO of CWT, noted, “While the past few years have seen significant volatility in travel costs, our latest data suggests a period of relative stability is on the horizon.” GBTA’s CEO, Suzanne Neufang, added, “The research shows that while a more stable period for travel costs is likely, businesses should remain vigilant to evolving pricing dynamics influenced by global trends.”

To support businesses in navigating these trends, CWT has developed a Forecast Calculator that helps assess potential travel budget impacts. Additionally, to mark the 10th edition of this report, CWT and GBTA will soon release a special supplement exploring three potential future scenarios for business travel up to 2040.