Tourism Economics, GBTA reports explore business travel return

While leisure travel has been steadily improving over the past few months, business travel is still struggling to return. A Tourism Economics analysis released this week by the U.S. Travel Association suggested that both ongoing COVID restrictions and a “patchwork approach” to reopening across the country will prevent the segment from recovering until at least 2024. The report found spending on travel for large, in-person professional meetings and events declined 76 percent last year for a $97 billion loss in overall spending. 

Thanks to increasing vaccinations and the resultant decreasing infection rates, local markets have lowered overall restrictions, driving a