Optimism in the worldwide business travel sector has dropped by greater than half this 12 months, based on a report published by the Global Business Travel Association.
Positive sentiment fell from 67% in November 2024 to 31% in April 2025, based on the report which surveyed greater than 900 business travel professionals on the affect of tariffs, tightened border policies and other U.S. government policies announced this 12 months.
A couple of in 4 respondents in Canada, the USA and Europe said they felt “pessimistic” or “very pessimistic” about industry outlook this 12 months.
Nonetheless, 40% of those surveyed said they felt neither positive nor negative.
“Since I actually have been in my role for 4 years, I have never seen this high of a level of uncertainty,” Suzanne Neufang, the association’s CEO, told CNBC Travel Tuesday.
The survey showed nearly 30% of business travel buyers anticipate their firms will reduce worker trips this 12 months, while some 20% said they weren’t sure, it showed.
“They are not even confident enough to have the option to say things shall be tremendous or things won’t be tremendous,” she said.
Some 27% of respondents also said they expect business travel spending to diminish as well.
Long-term concerns
A 3rd of business travel buyers said their firms have either modified, or are considering changing, policies regarding travel to or from the USA, the report showed.
Some 6% said their firms had relocated events from the U.S. to a different country.
“From an APAC perspective, and definitely from a European perspective, possibly even LATAM, there’s the chance to be the source of where these meetings happen,” Neufang said. “There are lots of other opportunities to be a winner on this trade game.”
Business travel professionals expressed several concerns in regards to the potential for the long-term impact attributable to decisions of the Trump Administration this 12 months, led by worries over business travel costs (54%) and problems processing visas (46%).
Global airfares, nonetheless, are barely down — about $17, or 2.2% year-to-date — based on FCM Consulting, a division of the business travel company FCM Travel.
Not all ‘doom and gloom’
Nevertheless, the worldwide business travel market continues to be on course to top $1.6 trillion by the top of 2025, Neufang said.
Nonetheless, she said that is only “if the last 100 days don’t impact negatively all over the place.”
By 2028, the Global Business Travel Association expects, that number will cross the $2 trillion mark, she said. She noted that while business travel volumes have not returned to pre-pandemic levels, business travel spending fully recovered in 2024, partly in consequence of inflation.
But she said the trade war initiated by the Trump Administration could spell a bout of latest business trips.
“During times of trade wars, business travel may very well increase for at the very least a time frame — for brand new partners to be found [and] recent markets to be built,” she said. “You lose a customer, you’ll want to find one other one. So I feel that perspective doesn’t suggest all doom and gloom for us.”
Nonetheless, if tariffs remain elevated, “There will certainly be an impact to U.S. travel … But I feel Europe, Asia, Europe to Asia, Asia to Europe. I feel anywhere to Africa, all of those are probably tremendous.”
Leisure travel to the USA has fallen in 2025. International visitor spending is projected to drop 4.7% from 2024, representing some $8.5 billion for the U.S. travel industry, in a 12 months revenues were once widely expected to grow.
— CNBC’s Bella Stoddart contributed to this report.
