Enterprise Journey Statistics [2007-2024]: Market & Development Information 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 share of enterprise journey spending goes in direction of lodgings, with meals coming in second.
• The typical enterprise traveler is a 42-year-old male, however that’s altering as extra younger individuals and extra girls are happening 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 resulting from pandemic restoration ($1.03 trillion), the International 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 big 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 firms carve out a big price range for company journey spending. Clearly, there’s an anticipated return on funding for firms to be prepared to make the spend, particularly because the common enterprise journey is commonly costlier than leisure journey.

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

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

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

Enterprise Journey Spending by Nation

International enterprise journey spending is very concentrated in a number of international locations with industrial economies, with China and the US far outpacing the remainder of the world.

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

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

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

The remainder of the world mixed solely provides $207 billion to the full 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 firms are spending essentially the most cash. The chart beneath exhibits the full 2022 spending throughout 5 classes in accordance with the GBTA.

It’s straightforward to imagine that airfare could be the main expense for enterprise journeys. In actuality, it’s solely third on the checklist after lodging and meals. Lodging is the biggest spending by far for company journey, accounting for greater than double the quantity of every other 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 accordance with Statista.

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

Nonetheless, that breakdown is just not constant throughout all journey industries. Accommodations, eating, and vacationer actions typically make far more cash from leisure vacationers, however many airways really earn a bigger share of income from enterprise vacationers.

Based on Investopedia, solely 12% of airline passengers are enterprise vacationers. Nonetheless, as a result of enterprise vacationers pay increased charges, extra usually e-book last-minute, and usually tend to fly top quality, they will account for as much as 75% of airline earnings.

Whereas many leisure vacationers attempt to save as a lot cash on airfare as doable, companies are sometimes extra prone 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 vital part of the journey business.

Enterprise Traveler Demographics

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

However occasions are altering. Youthful individuals and ladies are touring extra for enterprise, and these tendencies will probably change what enterprise journey appears like sooner or later.

Listed here 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 folks in management roles usually 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 typical age for enterprise vacationers is 42.

Nonetheless, in accordance with market analysis by Skift, the common age of enterprise vacationers is progressively shifting downward, and extra youthful persons are touring for work.

This may have dramatic impacts on the enterprise journey market, as youthful vacationers want Uber over taxis, trip leases over lodges, and are much less prone 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 12 months had been males.

Nonetheless, that development is starting to alter. 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 girls. That’s up 14% from the 2021 figures.

As workplaces world wide make sluggish progress towards gender equality, girls will take extra enterprise journeys than ever earlier than.

Curiously, whereas enterprise vacationers are more likely to be males, the other is true for leisure journey, in accordance 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 girls.

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

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

Yearly Enterprise Journey Developments

As with most industries, enterprise journey has been rising steadily. As firms proceed to develop globally, worldwide collaboration will turn out to be extra essential, and enterprise journey will turn out to be much more important.

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

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

Over the subsequent 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% resulting from pandemic journey bans.

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

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

“Bleisure” Statistics

Lately there was a rise in enterprise vacationers taking part 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 out to be a extra essential 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 prone 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 it is advisable know.

Bleisure Journey Size

Since bleisure includes combining tourism, downtime, and leisure with enterprise journey, no two journeys are the identical. There are particular tendencies within the bleisure market although.

The primary essential development is that bleisure is turning into more and more common. On common, 60% of enterprise journeys embody time added on for leisure.

The size of a enterprise journey is essential 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 massive majority of enterprise journeys that flip into bleisure journeys are 2 or 3 nights. 50% of survey respondents stated they had been most definitely to increase enterprise journey for leisure in the event that they needed to keep 2-3 nights. This time solely contains 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 practically double the size of a visit.

Bleisure Journey Vacation spot Statistics

Worldwide enterprise journeys and home enterprise journeys are equally prone to turn out to be bleisure journey. 51% of home enterprise journeys are bleisure journeys, and 52% of worldwide journeys embody 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 probably so as to add leisure time to their journey.

Bleisure Vacation spot Priorities

Based on this analysis from Expedia Enterprise Group, good meals, seashores, pure sightseeing, and good climate are the highest concerns that make for a well-liked bleisure vacation spot.

Bleisure Traveler Statistics

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

Bleisure Traveler Occupations

By far essentially the most bleisure vacationers work in know-how, IT, or software program. On the whole, know-how employees journey greater than most different professions, which is a key motive for why know-how employees usually tend to embody leisure time of their travels.

One other solution to characterize bleisure vacationers is by how steadily they depart 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 typical 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 tendencies, and yearly tendencies. I gathered this information from market analysis companies, tutorial research, and authorities companies.

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

Different key sources for the enterprise journey tendencies and demographics on this report embody the International 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 large quantity of knowledge and information out there throughout these sources, however it’s disjointed and infrequently 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 knowledge to generate the tables, graphs, and statistics on this report.