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 recovery outlook is more pessimistic than GBTA's last forecast issued a year ago, when it expected a full rebound to 2019 levels by 2024. "The factors impacting many industries around the world are also anticipated to impact global business travel recovery into 2025," GBTA CEO Suzanne Neufang said in a statement."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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