While leisure travel continues to grow worldwide, business travel trips in the United States stagnated last year, according to Morning Consult.
Trips highest on the chopping block include company retreats, trade shows and incentive travel, according to Morning Consult.Survey respondents said they believed those changes were made to reduce costs, improve employee health and wellness, and because virtual meetings have eliminated the need for certain face-to-face ones.
Morning Consult asked business travelers, who traveled for work at least three times annually before the pandemic, when they expected to take their next business trip:"At least half of French, British and German business travelers who frequently took work trips before the pandemic say they never will again," said Lindsey Roeschke, travel and hospitality analyst at Morning Consult. "Other areas show more promise though, specifically India, China and Brazil.
While this may appear to be a full recovery of sorts, the report notes businesses are having to spend more because of inflation and higher travel costs.