Business Travel Spending to Hit $1.57 Trillion in 2025

Despite economic headwinds and geopolitical tensions, global business travel is on a strong upward trajectory, with spending expected to reach a record $1.57 trillion in 2025, according to the Global Business Travel Association’s (GBTA) latest Business Travel Index Outlook.

The 6.6% year-over-year increase reflects a tempered forecast compared to last year’s 10.4% projection, primarily due to trade policy uncertainty and global economic shifts. Still, the sector continues its recovery, following 2024’s near-record spend of $1.47 trillion—just shy of the $1.48 trillion projection and up from the 2019 pre-pandemic peak of $1.43 trillion.

While the industry has reached a new high in nominal terms, GBTA noted that inflation-adjusted spending remains 14% below 2019 levels, indicating slower volume recovery. The five-year outlook remains cautiously optimistic, with global business travel spend forecast to surpass $2 trillion by 2029, one year later than previously anticipated.

The U.S. is set to reclaim its position as the top global spender in 2025, overtaking the Asia-Pacific region. U.S. and China are expected to account for 58% of total spend, with $395.4 billion and $373.1 billion, respectively. Other top markets include Germany, Japan, the U.K., India, South Korea, and Turkey.

Meanwhile, digital wallet adoption continues to rise among business travelers. Globally, 64% now use mobile wallets, increasing to 72% in the Asia-Pacific region. Visa and other payment providers are responding with new mobile-first tools, as governments and tech giants push for digital ID and payment standardization.

The GBTA’s 17th annual report, developed with Visa, covers 72 countries and reflects insights from over 7,300 business travelers.

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Business Travel Spending to Hit $1.57 Trillion in 2025

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