Restore Business Travel, Meetings and Events

Policy Recommendations to Restore Business Travel, Meetings and Events

A return to a thriving travel industry—and American economy—is dependent on the return of business travel, meetings and events.

In 2021, business travel was still 56% below pre-pandemic levels. Today, the sector remains severely depressed. This is having a disproportionate impact on the overall travel industry’s recovery. Despite making up 20% of total trip volume, business travelers account for 40-60% of lodging and air revenue (pre-pandemic).

U.S. Travel’s Semi-Annual Forecast projects that domestic business travel volume will reach 81% of pre-pandemic levels in 2022 and 96% in 2023. However, domestic business travel spending, when adjusted for inflation, will not fully recover to pre-pandemic levels within the range of the forecast.

Meetings Mean Business, in partnership with U.S. Travel, is advocating for federal policies that would accelerate the business travel sector’s recovery.

Our recommendations to accelerate the recovery of business travel, meetings and events:

Help revive business travel spending in restaurants and entertainment venues by ensuring a tax extenders package includes:

  • A temporary restoration of the entertainment business expense deduction.
  • An extension of full expensing for business meals.

In addition to a tax extenders package, we are also looking to provide a more stable environment for large in-person meetings, conferences, conventions, trade shows and exhibitions, by enacting legislation that ensures event cancellation insurance continues to cover losses related to disease outbreaks and other public health risks.

Read our recent letter to U.S. Treasury Secretary Janet Yellen.

It is time for corporate leaders and the federal government to get back to business to reignite these valuable face-to-face connections and restore this critical segment of the U.S. economy.

Read U.S. Travel’s full list of legislative priorities to restore the travel economy.

Learn more about U.S. Travel’s efforts to reignite in-person meetings and events.