NEW YORK - Global business travel spending in 2023 recovered to pre-pandemic levels in North America, Latin America, the Middle East and Africa as companies resumed in-person gatherings and conferences, according to report released Monday by an industry association.
The association predicts that spending will reach $1.48 trillion by the end of 2024, surpassing the pre-pandemic record of $1.43 trillion. However, the region still lagged a full recovery as business travel spending in China increased 9% year-over-year, but still trails behind pre-pandemic levels.