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 accounted for 40-60% of lodging and air revenue before the pandemic.
U.S. Travel’s Semi-Annual Forecast projects there will be continued improvement in domestic business travel, with a slight slowdown in 2023 as the economy enters a mild recession.
A full recovery in terms of volume is still forecast for 2024, but inflation-adjusted spending recovery remains beyond 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:
- The Federal government should return to in-person work and travel
- The U.S. Department of State should take steps to greatly reduce visitor visa interview wait times to facilitate more international business travel
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 strategic priorities.
Learn more about U.S. Travel’s efforts to reignite in-person meetings and events.