Deloitte Says Event Travel is Back

Alright, road warriors, pack your bags—business travel is officially back, and Deloitte’s got the receipts to prove it. After a few years of Zoom fatigue, corporate travel is roaring back to life, and companies are spending big to get their people back on the road. But it’s not all smooth sailing—rising prices, sustainability goals, and shifting work trends are all throwing curveballs. Let’s break down what’s happening in business travel land in 2024.

Travel Budgets Are Blowing Up

Deloitte’s latest survey found that companies are going all in on business travel again:

• 73% of travel managers expect spending to jump in 2024, with a 14-15% increase on average.
• 58% expect spending to keep rising in 2025, though at a slightly slower rate.
• By the end of 2024, U.S. corporate travel spending is expected to hit or surpass pre-pandemic levels.

Basically, if you thought business travel was a thing of the past—think again. Companies are finding real value in getting their teams back out there.

‍Conferences, Client Meetings, and International Trips Are Fueling the Boom

‍Business travel isn’t just making a comeback—it’s evolving. The biggest drivers? Good old-fashioned face time.

• 63% of business travelers plan to hit up at least one conference in 2024. (Networking is back, baby!)
• Frequent travelers say client meetings, project work, and sales trips are their top reasons for hopping on a plane.
• International travel is heating up, especially with entry restrictions easing in many regions.

Companies are finally admitting that, yeah, virtual meetings are convenient, but nothing beats a real handshake and an overpriced latte with a client.

‍Corporate Travel Costs: The Good, The Bad, and The Expensive

‍The biggest buzzkill for corporate travel?

‍Rising costs. Deloitte found that high prices are making a bigger impact on travel volume than budget cuts. Here’s how companies are fighting back:

• Pushing employees to use company booking tools (55% of travel managers say this helps keep costs in check).
• Steering travelers toward economy fares (Sorry, first-class dreamers).
• Using data and analytics to track spending trends and make smarter travel decisions.

But let’s be real—airfare and hotel prices are through the roof, and companies are scrambling to stretch their budgets.

‍Can Business Travel Go Green? (Sort of)

‍Sustainability is a big deal, but it’s a tough nut to crack in corporate travel. Deloitte’s report shows companies are trying to be more eco-conscious, but travelers aren’t exactly racing to book greener options.

• Over half of travel managers say their companies will need to cut trips by 10-20% to meet sustainability goals.
• 46% have implemented emissions budgets for teams and employees.
• Only 1 in 10 business travelers actually consider carbon emissions when booking flights.

Translation? Companies want to go green, but unless there’s a real incentive (or mandate), most travelers aren’t changing their habits just yet.

‍What’s Next for Business Travel?

‍Deloitte’s report makes it clear: business travel is here to stay, but companies need to adapt. Managing costs, balancing sustainability, and making travel worthwhile will be the name of the game in 2025 and beyond.