Enterprise Journey Statistics [2007-2024]: Market & Pattern Knowledge Evaluation

Key Enterprise Journey Statistics

• Over $1 trillion is spent yearly on enterprise journey worldwide.
• Enterprise professionals anticipate 25% extra income generated from in-person collaboration over digital conferences.
• China has the very best enterprise journey spending at $360 billion in 2022.
• The most important proportion of enterprise journey spending goes in direction of lodgings, with meals coming in second.
• The common enterprise traveler is a 42-year-old male, however that’s altering as extra younger individuals and extra ladies are occurring company journeys than ever earlier than.

Enterprise Journey Spending Statistics

In 2019 (earlier than the pandemic), the enterprise journey business accounted for $1.4 trillion in world spending. Whereas 2022 spending was nonetheless lagging as a consequence of pandemic restoration ($1.03 trillion), the World Enterprise Journey Affiliation (GBTA) predicts enterprise journey spending will surpass pre-pandemic ranges in 2024 and proceed to develop to $1.8 trillion in 2027.

With a lot being spent, the enterprise journey market is a major financial power. Not solely does company journey inject cash into the tourism business and native economies, it additionally results in improved productiveness and earnings. Even on this planet of Zoom and telecommuting, the necessity for enterprise journeys isn’t going away anytime quickly.

It’s telling that corporations carve out a major funds for company journey spending. Clearly, there’s an anticipated return on funding for corporations to be prepared to make the spend, particularly because the common enterprise journey is commonly costlier than leisure journey.

In accordance with the ACCOR Enterprise of Journey Report, enterprise professionals anticipate 25% extra income generated from touring for in-person collaboration over digital conferences.

It’s value understanding how a lot is spent on enterprise journey, the place that cash goes, and when corporations resolve enterprise journey is value it.

Listed below are the important thing enterprise journey spending statistics to grasp the financial impacts of the enterprise journey business.

Enterprise Journey Spending by Nation

World enterprise journey spending is extremely concentrated in a number of international locations with industrial economies, with China and the USA far outpacing the remainder of the world.

Listed below are the highest 15 international locations for enterprise journey spending in keeping with the 2023 Enterprise Journey Index Outlook from the GBTA.

It’s no shock that, with a number of exceptions, these identical international locations are additionally the very best ranked for GDP. Apparently, Russia is the one nation within the high ten for GDP that doesn’t seem on this checklist.

Enterprise vacationers are virtually universally touring inside or between these 15 international locations.

The remainder of the world mixed solely provides $207 billion to the overall world enterprise journey spending. As with many different metrics, this exhibits how a lot the world’s financial exercise and wealth is concentrated inside a number of areas. These 15 international locations make up solely about half the worldwide inhabitants, however they account for 85% of the worldwide enterprise journey spending.

Enterprise Journey Spending Classes

Enterprise journey could be damaged into a number of spending classes to see the place corporations are spending probably the most cash. The chart beneath exhibits the overall 2022 spending throughout 5 classes in keeping with the GBTA.

It’s simple to imagine that airfare can be the main expense for enterprise journeys. In actuality, it’s solely third on the checklist after lodging and meals. Lodging is the most important spending by far for company journey, accounting for greater than double the quantity of another class.

Enterprise Journey Spending vs Leisure Journey Spending

Whereas enterprise journey is a big business, leisure journey is even larger. The desk beneath exhibits complete journey spending divided between enterprise and leisure journey in keeping with Statista.

On common, solely 15.2% of journey spending comes from enterprise journey. 84.8% is from leisure journey.

Nevertheless, that breakdown just isn’t constant throughout all journey industries. Lodges, eating, and vacationer actions usually make rather more cash from leisure vacationers, however many airways really earn a bigger proportion of income from enterprise vacationers.

In accordance with Investopedia, solely 12% of airline passengers are enterprise vacationers. Nevertheless, as a result of enterprise vacationers pay greater charges, extra typically guide last-minute, and usually tend to fly first-class, they’ll account for as much as 75% of airline earnings.

Whereas many leisure vacationers attempt to save as a lot cash on airfare as potential, firms are sometimes extra more likely to spend additional for upgraded enterprise journey consolation.

Analysis from Enterprise Traveler discovered that 33% of worldwide enterprise journey flights are in premium class, and 13% of home enterprise journey flights are in premium class.

Whereas leisure journey is considerably bigger, enterprise journey spending remains to be a important element of the journey business.

Enterprise Traveler Demographics

Historically, nearly all of enterprise vacationers match inside a really distinct demographic. The common enterprise traveler is a 42-year-old man.

However occasions are altering. Youthful individuals and girls are touring extra for enterprise, and these traits will possible change what enterprise journey appears to be like like sooner or later.

Listed below are the important thing enterprise journey statistics referring to traveler demographics.

Enterprise Traveler Age

Typically, individuals touring for enterprise usually tend to be in additional superior roles of their profession, and other people in management roles typically journey greater than others.

Enterprise Vacationers by Age

The overwhelming majority of enterprise vacationers are of their 30s and 40s—people who find themselves within the stage of working up the ladder of their profession. The common age for enterprise vacationers is 42.

Nevertheless, in keeping with market analysis by Skift, the common age of enterprise vacationers is steadily shifting downward, and extra youthful individuals are touring for work.

This may have dramatic impacts on the enterprise journey market, as youthful vacationers favor Uber over taxis, trip leases over motels, and are much less more likely to make reserving selections primarily based on journey loyalty applications.

Enterprise Traveler Gender

Traditionally, company vacationers have dominantly been males. A Bureau of Transportation Statistics report discovered that 77% of enterprise vacationers that yr had been males.

Nevertheless, that development is starting to vary. The desk beneath compares 2001 gender breakdown with up to date 2022 statistics for enterprise vacationers.

Gender Distinction in Enterprise Journey Over Time

In 2022, 37% of enterprise journeys had been made by ladies. That’s up 14% from the 2021 figures.

As workplaces around the globe make sluggish progress towards gender equality, ladies will take extra enterprise journeys than ever earlier than.

Apparently, whereas enterprise vacationers are more likely to be males, the alternative is true for leisure journey, in keeping with analysis by Forbes. The desk beneath exhibits a comparability of the gender breakdown in enterprise journey and leisure journey.

Gender Distinction in Leisure and Enterprise Journey

64% of vacationers on leisure journeys are ladies.

The demographics for enterprise and leisure journey usually are not aligned. The place the common enterprise traveler is a 42-year-old man, the common leisure traveler is a 47-year-old lady.

Clearly, ladies are extra apt to journey than males outdoors the office, and the one purpose that males usually tend to journey for work is because of total gender inequality in enterprise. It will likely be fascinating to see if ladies surpass males in enterprise journey as corporations transfer in direction of gender equality in workplaces.

Yearly Enterprise Journey Tendencies

As with most industries, enterprise journey has been rising steadily. As corporations proceed to develop globally, worldwide collaboration will turn into extra vital, and enterprise journey will turn into much more important.

The desk beneath exhibits the worldwide enterprise journey spending over time from 2007 to 2022 in keeping with Statista.

Previous to COVID-19, the one current drop in enterprise journey spending occurred in 2009, in the course of the recession. From 2008 to 2009, enterprise journey spending dropped 5.7%.

Over the following 10 years, enterprise journey spending elevated by 63% and peaked at $1408 billion in 2019. This progress was adopted by an enormous drop, because the COVID-19 pandemic put a damper on journey.

From 2019 to 2020, enterprise journey spending dropped 53% as a consequence of pandemic journey bans.

Whereas the journey business as an entire has recovered rapidly from the pandemic, enterprise journey has had a slower return to pre-pandemic ranges in keeping with Deloitte Insights.

Nonetheless, progress is on the way in which. World enterprise journey spending is anticipated to surpass pre-pandemic ranges in 2024 and proceed to develop.

“Bleisure” Statistics

In recent times there was a rise in enterprise vacationers collaborating in leisure actions or asking so as to add additional time to their enterprise journeys to get pleasure from free time at their vacation spot. This rising type of enterprise tourism has earned the nickname “bleisure.”

Bleisure journeys ought to turn into a extra vital consideration for company journey managers when designing an organization’s journey coverage. When enterprise vacationers spend extra time as vacationers at their vacation spot, they’re extra more likely to see company journeys as a perk of their job quite than a burden.

The Expedia Group carried out a survey of over 2,500 bleisure vacationers worldwide, and I’ve unpacked the important thing statistics from their report that you should know.

Bleisure Journey Size

Since bleisure entails combining tourism, downtime, and rest with enterprise journey, no two journeys are the identical. There are particular traits within the bleisure market although.

The primary vital development is that bleisure is changing into more and more well-liked. On common, 60% of enterprise journeys embrace time added on for leisure.

The size of a enterprise journey is vital for vacationers deciding whether or not so as to add on leisure time to company journey. The desk beneath exhibits a breakdown of bleisure vacationers primarily based on the size of keep for enterprise.

Enterprise Journey Size

The big majority of enterprise journeys that flip into bleisure journeys are 2 or 3 nights. 50% of survey respondents stated they had been more than likely to increase enterprise journey for leisure in the event that they needed to keep 2-3 nights. This time solely consists of the enterprise journey portion of the journey, and most of the people including leisure time into a visit will spend a number of additional days.

When including leisure onto company journey, individuals spend 3.9 working days and a pair of.9 leisure days on common. Which means leisure time can almost double the size of a visit.

Bleisure Journey Vacation spot Statistics

Worldwide enterprise journeys and home enterprise journeys are equally more likely to turn into bleisure journey. 51% of home enterprise journeys are bleisure journeys, and 52% of worldwide journeys embrace bleisure.

The vacation spot additionally issues for enterprise vacationers when contemplating including leisure time to company journey. The desk beneath exhibits the highest options of a vacation spot that make a enterprise traveler extra possible so as to add leisure time to their journey.

Bleisure Vacation spot Priorities

In accordance with this analysis from Expedia Enterprise Group, good meals, seashores, pure sightseeing, and good climate are the highest issues that make for a preferred bleisure vacation spot.

Bleisure Traveler Statistics

The variety of enterprise vacationers together with leisure in enterprise journeys varies by career. The desk beneath exhibits the highest 5 occupation classes for bleisure journey.

Bleisure Traveler Occupations

By far probably the most bleisure vacationers work in know-how, IT, or software program. Normally, know-how staff journey greater than most different professions, which is a key purpose for why know-how staff usually tend to embrace leisure time of their travels.

One other technique to characterize bleisure vacationers is by how continuously they go away on enterprise journey.

Enterprise Journey Frequency of Bleisure Vacationers

Most enterprise vacationers including leisure to a company journey are those that take enterprise journeys each 2-3 months. The common bleisure traveler takes 6.4 enterprise journeys every year.

Sources and Methodology

This report is predicated on a complete and in-depth evaluation of enterprise journey spending, demographics, geographic traits, and yearly traits. I gathered this information from market analysis corporations, tutorial research, and authorities businesses.

The GBTA 2023 Enterprise Journey Index Outlook, ACCOR Enterprise of Journey Report, and Expedia’s Bleisure Journey Tendencies Report had been key sources of data for understanding the panorama of enterprise journey and the traits within the business.

Different key sources for the enterprise journey traits and demographics on this report embrace the World Enterprise Journey Affiliation, Bureau of Transportation Statistics, Statista, Forbes, Enterprise Traveler, and Investopedia. Any sources not included listed below are cited straight within the textual content.

There’s a great quantity of data and information out there throughout these sources, however it’s disjointed and sometimes tough to interpret. I compiled uncooked information and particular person findings from these sources right into a single cohesive useful resource.

I used this big selection of data to generate the tables, graphs, and statistics on this report.