Record growth in business travel spending projected for 2026. Photo Credit: iStock/olga_demina
Global business travel spending is forecast to reach a record US$1.71 trillion in 2026, even as the growth in business trips remains comparatively modest, according to the latest Business Travel Index (BTI) Annual Global Report and Forecast from the Global Business Travel Association (GBTA).
Unveiled during the GBTA Convention 2026 in Chicago, the report forecasts global business travel spending will grow 7.2% this year, while the number of business trips will rise just 1.3% to approximately 1.84 billion, up from an estimated 1.82 billion in 2025.
The association said the disparity reflects the impact of higher transportation and travel costs, with rising prices contributing more to overall spending growth than increases in travel volumes.
The report also found that business travel spending grew 8.4% in 2025 to US$1.59 trillion, exceeding GBTA's previous forecast of 6.6% growth. Stronger-than-expected economic activity, easing trade tensions during the second half of 2025 and currency exchange effects contributed to the stronger performance.
Global business travel spending is now expected to exceed US$2 trillion by 2030, a year later than previously forecast, as growth moderates after 2026.
"The big story this year is that companies haven't stepped away from travel, but they are increasingly more selective and productivity-focused," said Suzanne Neufang, CEO of GBTA.
"While business travel spending continues to grow, the number of trips is rising more slowly, making it necessary for all of us to assess industry and organizational impact. Travel remains essential, and companies are critically disciplined about where, how and why they travel."
The report identifies four factors shaping the 2026 outlook: resilient economic growth, continued business investment, heightened geopolitical uncertainty and elevated transportation costs.
GBTA said conflict involving Iran and the broader Middle East earlier this year disrupted aviation, trade and energy markets, resulting in longer flight times, altered long-haul routes and higher airfares. The forecast assumes airline networks will gradually normalise during the second half of 2026.
Regional performance is expected to vary. Business travel volumes in the Middle East are forecast to decline 12.3% as conflict weighs on activity, while Asia and Europe are expected to face continued pressure from air travel disruptions and energy market volatility.
In contrast, the Americas are forecast to benefit from stronger economic conditions, supported by artificial intelligence (AI) and technology investment in the US, higher energy prices in Brazil and improved economic stability in Argentina.
AI-related investment is also emerging as a driver of business travel demand, particularly in North America and Asia Pacific, with spending on digital infrastructure, data centres and enterprise technology supporting project-based travel and cross-border collaboration.
The United States and China are expected to remain the world's two largest business travel markets in 2026, with spending forecast to reach US$423 billion and US$403.7 billion, respectively. Together, they account for almost half of global business travel expenditure.
Among the top 15 markets, Brazil is forecast to record the fastest spending growth at 13.8%, followed by Australia (11.5%), South Korea (11.3%), Türkiye (10.9%) and Japan (10%).
The report also includes findings from a survey of more than 4,700 business travellers across 66 markets. Nearly three-quarters (74%) said they travelled as much as or more than in previous years, rising to 80% among respondents in Asia Pacific. More than a quarter (28%) expect to travel more in 2026 than they did in 2025, while 65% said their organisations require or encourage bookings through a travel management company or corporate online booking tool.