The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
The recovery of global business-travel spending to the pre-pandemic level of $1.4 trillion has been pushed out 18 months to mid-2026 by inflation, economic slowing and high energy prices, the Global Business Travel Association is forecasting.
The return to the 2019 level also is being slowed by supply-chain disruptions, labour shortages, lockdowns in China and the effects of the war in Ukraine on nearby regions, according to the group’s 2022 Business Travel Index Outlook. It reviews business-travel spending in 73 countries and 44 industries.
“The factors impacting many industries around the world are also anticipated to impact global business-travel recovery into 2025,†said Suzanne Neufang, the organisation’s CEO.