Melvin Bachman, Quartz (TNS)
Business class is becoming popular again. Consulting firm Deloitte said in a report this week that U.S. business travel may soon surpass pre-pandemic levels, suggesting that frequent flyers “business travelers” continue to return to the skies. Seventy-three percent of those surveyed expect their business travel to increase this year, up 15 percentage points from 2023.
“By the end of 2024, U.S. corporate spending is expected to reach and likely exceed 2019 levels,” Deloitte said in its annual corporate travel survey.
Meanwhile, the report found that the number of people traveling for business is down overall. But those who do are traveling more frequently: Half of those with travel budgets say their teams will travel more frequently in 2024 than they did last year. Among “frequent travelers” who take more than 10 business trips a year, one in five respondents is traveling at least once a month. (Plus, airfare and hotel costs are higher than they used to be, according to Deloitte. United Airlines said in an earnings commentary this week that business travelers are key to its business diversification efforts.)
In the early days of the COVID-19 pandemic, social distancing efforts, remote work and meetings, and fears of infection led to significant limitations in business travel, with some business travelers saying they never thought they would travel again.
But customer demands, a resurgence in meeting attendance and competitive pressures are taking a back seat to these factors, Deloitte said.
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