Inflation, labour shortages to delay recovery in business travel spending - Industry forecast - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 16-08-22 05:11:00
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A recovery in global business travel spending to pre-pandemic levels is likely to be delayed by 18 months to 2026 because of factors like persistent inflation, high energy prices, labour shortages and lockdowns in China, a new industry forecast shows.

The Global Business Travel Association said business travel spending rebounded by 5.5% to $697 billion in 2021 with North America leading the recovery, but remained well short of 2019 levels of $1.4 trillion.

Environmental sustainability considerations and the regional impact of the war in Ukraine are also weighing on travel demand, the forecast said. “The forecasted result is we’ll get close, but we won’t reach and exceed 2019’s pre-pandemic levels until 2026.”

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