Corporate travel spending to go up 32% in ’22

A report of World Travel & Tourism Council mentions that business travel expenditure in the Middle East will rise by 32% this year, following a predicted 49% increase during 2021. This gives hopes for boost in travel and tourism business throughout the region.

Business ravel expenditure in the Middle East is forecast to rise by 32 per cent this year, following a predicted 49 per cent increase during 2021, as per a report by World Travel & Tourism Council (WTTC) published in November 2021. The report gives hope for the sector.

“This positive data (on travel expenditure) will provide a welcome boost for business travel and tourism professionals throughout the Middle East, as economies around the world begin to relax travel restrictions, despite the disruption caused by the outbreak of the Omicron variant. During 2021, the increase in business spending for the full year is expected to have actually outpaced spending on leisure travel by 13 per cent, 10 per cent and 1 per cent in the Middle East, Europe and Africa, respectively,” said Danielle Curtis, Exhibition Director ME – Arabian Travel Market, which will take place at Dubai World Trade Centre (DWTC) from May 9 to 12 this year.

“Aviation experts, speaking at ATM 2021, had expected business travel to lag behind leisure travel, but this estimated increase of 32 per cent comes on top of a predicted rise during 2021 of 49 per cent . The business travel segment is now accelerating towards pre-pandemic levels,” he added.

In terms of business travel spending in 2021, the report ranks the Middle East region first with an increase of 49 per cent, followed by Europe and Africa (36%), Asia Pacific (32%) and the Americas (14%). The report read, the Asia Pacific region will lead the world in 2022 with growth in spending of 41 per cent, followed by the Americas with a 35 per cent increase, the Middle East 32 per cent, Europe on 28 per cent and Africa with a 23 per cent rise.

“Business travel will also be under the spotlight this year on the ATM Global Stage, where Global Business Travel Association (GBTA), the world’s premier business travel and meetings trade organisation, will discuss its latest business travel content and research during two main sessions – ‘The future of business travel’ and ‘Building a sustainable business travel programme’,” said Curtis.

The WTTC report, ‘Adapting to Endemic Covid-19: The Outlook for Business Travel’, compiled in collaboration with McKinsey & Company, draws on research, analysis and in-depth interviews with travel & tourism business leaders to enable organisations to prepare for corporate travel in the post-pandemic era. “…our research shows room for optimism with Asia Pacific and the Middle East first off the starting blocks,” the report concluded.