Business travel is expected to continue growing in 2024, though at a lower rate, according to the biannual forecast by the U.S. Travel Association for travel to and within the US through 2027. The forecast was prepared by Tourism Economics.

Volume in the sector is expected to end the year at 95% of 2019 levels — up from 89% recovered in 2023. Slowing economic growth will hinder domestic business travel’s recovery, with a full comeback in volume not expected until 2026. Domestic business travel spending is not expected to recover to pre-pandemic levels within the range of the forecast.

International travel to the US is growing quickly but is still far from a full pre-pandemic recovery. An expected global macroeconomic slowdown, a strong dollar and lengthy visa wait times could inhibit future growth, with volume reaching 98% of 2019 levels in 2024 (up from 84% recovered in 2023) and achieving a full recovery in 2025. Spending levels, when adjusted for inflation, are not expected to recover until 2026.

The forecast was released just days after U.S. Travel revealed the findings of a global competitiveness report conducted by Euromonitor International. The report found the US ranked 17th out of 18 top markets for travel due to decades of underinvestment and a lack of focus and coordination from federal policymakers. Image: Shutterstock