A new report from the World Travel & Tourism Council (WTTC) has revealed that UK business travel is set to reach a record high in 2024, surpassing pre-pandemic levels for the first time. This surge is a significant milestone for the sector, which has been slower to recover than leisure travel due to the increased popularity of remote working and the decline in face-to-face meetings.
Despite a global slowdown in business travel during the pandemic, the UK market is experiencing a remarkable rebound. According to the WTTC’s Economic Impact Trends Report, UK corporate travel spending is expected to reach a staggering $84.1 billion this year. This figure represents a significant increase from 2023, when global business travel was still 5.4% lower than its 2019 peak.
Julia Simpson, CEO of the WTTC, expressed her enthusiasm for the UK’s strong recovery in business travel. “It’s really incredible because business travel, it’s not just back, it’s actually booming,” she said at the WTTC Global Summit in Perth, Australia. “We didn’t think business travel was going to come back until 2025, and it’s actually come back a year early, which is a very good sign.”
The report also highlighted the significant contribution of business travel to the UK’s overall travel and tourism industry. This year, business travel accounted for 31% of all UK travel and tourism spending, compared to a global average of around 20%. The United States is the largest source of inbound business arrivals to the UK, with approximately 790,000 visitors annually.
The WTTC’s annual summit provided a platform for industry leaders, government officials, and heads of state to discuss the challenges and opportunities facing the travel and tourism sector. A separate report presented at the summit offered further evidence of the global recovery in leisure tourism, with international arrivals up 16% so far this year compared to the same period in 2023.
