Covid live updates: Business travel spending may not recover until 2025, says trade group

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The U.S. is recording at least 146,000 new Covid-19 cases and at least 3,100 virus-related deaths each day, based on a seven-day average using JHU data.

"We recently got good news when President Biden signed an executive order mandating face masks across interstate travel, including airports and aircraft,"CEO Ed Bastian told employees on Monday. "This adds a layer of protection for our people who have been integral in enforcing our mask policy. To date, we've banned approximately 950 people for failing to comply with the mask requirement.

The Transportation Security Administration, one of the agencies that will enforce the rule, says travelers who fail to comply could face civil penalties.Global corporate travel spending fell by more than 50% last year to $694 billion as the coronavirus pandemic ended a decade of growth, a trade group estimates. It could take until 2025 to recover.

Business travel spending will likely increase by 21% this year, most of it at the end of the year as more people are vaccinated, estimates the Global Business Travel Association, whose members include airlines, hotel chains, travel agents and others. While the group expects travel spending to grow, it will be at a slow pace. After China, the U.S. is the second-biggest corporate travel market. It was hard hit by the pandemic, with travel spending falling an estimated 61% to $121.7 billion last year. "A coordinated vaccination campaign across the US and North America will of course be paramount to ensuring a rapid return to pre-pandemic economic activity," the GBTA said in its forecast.

 

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