More Trips, Higher Prices: Business Travel Spending May Finally Top 2019 Levels

Business travel spending by U.S. companies may finally exceed pre-pandemic levels by the end of the year, according to a Deloitte report released Wednesday. 

Spending is expected to grow between 8% and 12% to meet or exceed pre-pandemic levels by the end of 2024, the consulting company found in two surveys of U.S.-based corporate travel managers and executives, as well as U.S.-based corporate travelers.

“Business travel has been slower to come back following pandemic slowdowns, but this could be the year that it accelerates to new heights,” said Eileen Crowley, vice chair at Deloitte & Touche and U.S. transportation, hospitality and services. “Our managers that we've spoken to still expect their budgets or their spend to increase in 2025," she said, citing two factors: Higher prices from both airlines and hotels and an increase in trips.  

That said,