Research shows that people are itching to start traveling again – and luxury travel, in particular, is leading the recovery.
Research showed that between 2019 and 2020, the virtual event market grew nearly tenfold from $78 billion to $778 billion. Will the virtual model continue to reign supreme for future corporate meeting and events?
According to the Global Business Travel Association (GBTA), business travel spending is projected to rise to $842 billion in 2021, up from $694 billion in 2020, but there are still some challenges ahead.
Travel spending will not see pre-pandemic levels until 2025. While that may seem discouraging, it's important to note that the global B2B travel outlook isn't as dire as it may seem.