Mckinsey Report triggers optimism

GLOBAL business travel spending looks set to rise by more than a quarter this year and reach two thirds of pre-covid levels by the end of 2022, says a report from the World Travel & Tourism Council in collaboration with Mckinsey & Company.

It predicts a modest 26% rise in global business travel spend this year followed by a further rise of 34% next year. But this comes in the wake of a 61% collapse in business travel spend in 2020 due to the pandemic restrictions.

Julia Simpson, WTTC CEO & President, said: “Business travel is starting to pick up. We expect to see two thirds back by the end of 2022. Business travel has been seriously hit but our research shows room for optimism with Asia Pacific and Middle East first off the starting blocks.”