US business travel could hit 80% of 2019 levels by end-2022, pandemic effects could last longer: report

US corporations’ travel spending will likely inch up to 25-35% of 2019 levels by the end of 2021 and up to 80% by the end of 2022 – though full recovery depends on how significantly the pandemic changed corporations’ view of business travel. That is according to a new report from consultancy Deloitte, which notes that virtual meeting technology could lead companies to rethink the necessity of some trips. Airlines, at least in the USA, have seen domestic air travel return to near 2019 levels in recent months, though leisure travellers are primarily driving the rebound. Business travel, typically the most-lucrative segment, and international travel, remain badly depressed. Deloitte’s report, released on 3 August, predicts a steady increase in US corporate travel spending through the end of 2022. “Many companies plan to significantly accelerate their return to offices after Labor Day”, which is in early September, says the report. “Travel managers have identified this shift, especially clients’ return to the office, as a top trigger for travel.” The report is based on a survey of 150 travel managers and interviews with executives at companies that in 2019 spent an average of $123m on business travel. During the pandemic, many companies cut travel spending by 90%, it notes.<br/>