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Tuesday, July 23, 2024

Enterprise Journey Statistics [2007-2024]: Market & Pattern Information Evaluation


In lots of industries, journey is an everyday necessity for enterprise. Even within the post-COVID age of telecommuting and Zoom conferences, firms are keen to spend important quantities on journey for in-person collaboration.

Why is that this the case? How a lot is spent on enterprise journey? The place does that cash go? What are the developments within the enterprise journey trade? Who travels for enterprise, the place are they going, and the way lengthy are they staying? These are all key questions for understanding the enterprise journey trade.

I’ve dug deep into information from key sources within the trade, just like the International Enterprise Journey Affiliation, the Bureau of Transportation Statistics, and Expedia’s Bleisure Journey Tendencies Report. After in depth in-depth analysis, I extracted a number of key findings.

For many years, enterprise journey seemed very a lot the identical. As youthful folks and girls are touring extra for enterprise, and as extra persons are including leisure time to their enterprise journeys, the panorama of enterprise journey is altering dramatically.

Key Enterprise Journey Statistics

  • Over $1 trillion is spent yearly on enterprise journey worldwide.
  • Enterprise professionals anticipate 25% extra income generated from in-person collaboration over digital conferences.
  • China has the very best enterprise journey spending at $360 billion in 2022.
  • The most important share of enterprise journey spending goes in direction of lodgings, with meals coming in second.
  • The typical enterprise traveler is a 42-year-old male, however that’s altering as extra younger folks and extra girls are happening company journeys than ever earlier than.

Enterprise Journey Spending Statistics

In 2019 (earlier than the pandemic), the enterprise journey trade accounted for $1.4 trillion in world spending. Whereas 2022 spending was nonetheless lagging on account of pandemic restoration ($1.03 trillion), the International Enterprise Journey Affiliation (GBTA) predicts enterprise journey spending will surpass pre-pandemic ranges in 2024 and proceed to develop to $1.8 trillion in 2027.

With a lot being spent, the enterprise journey market is a major financial pressure. Not solely does company journey inject cash into the tourism trade and native economies, it additionally results in improved productiveness and earnings. Even on the planet of Zoom and telecommuting, the necessity for enterprise journeys isn’t going away anytime quickly.

It’s telling that firms carve out a major price range for company journey spending. Clearly, there’s an anticipated return on funding for firms to be keen to make the spend, particularly for the reason that common enterprise journey is commonly dearer than leisure journey.

In response to the ACCOR Enterprise of Journey Report, enterprise professionals anticipate 25% extra income generated from touring for in-person collaboration over digital conferences.

It’s price understanding how a lot is spent on enterprise journey, the place that cash goes, and when firms resolve enterprise journey is price it.

Listed here are the important thing enterprise journey spending statistics to know the financial impacts of the enterprise journey trade.

Enterprise Journey Spending by Nation

International enterprise journey spending is very concentrated in just a few nations with industrial economies, with China and the USA far outpacing the remainder of the world.

Listed here are the highest 15 nations for enterprise journey spending based on the 2023 Enterprise Journey Index Outlook from the GBTA.

Enterprise Journey Spending by Nation
Nation Spending (Billions USD)

China

$361

United States

$329

Germany

$70

Japan

$65

United Kingdom

$44

France

$42

Italy

$34

South Korea

$33

India

$32

Brazil

$28

Spain

$25

Australia

$24

Netherlands

$23

Canada

$23

Indonesia

$17

It’s no shock that, with just a few exceptions, these similar nations are additionally the very best ranked for GDP. Apparently, Russia is the one nation within the prime ten for GDP that doesn’t seem on this listing.

Enterprise vacationers are nearly universally touring inside or between these 15 nations.

The remainder of the world mixed solely provides $207 billion to the whole world enterprise journey spending. As with many different metrics, this exhibits how a lot the world’s financial exercise and wealth is concentrated inside just a few areas. These 15 nations make up solely about half the worldwide inhabitants, however they account for 85% of the worldwide enterprise journey spending.

Enterprise Journey Spending Classes

Enterprise journey could be damaged into a number of spending classes to see the place firms are spending probably the most cash. The chart beneath exhibits the whole 2022 spending throughout 5 classes based on the GBTA.

Class

2022 Spending (Billions USD)

Different

$121

Lodging

$395

Floor Transport

$138

Meals

$191

Airfare

$183

It’s simple to imagine that airfare could be the main expense for enterprise journeys. In actuality, it’s solely third on the listing after lodging and meals. Lodging is the most important spending by far for company journey, accounting for greater than double the quantity of every other class.

Enterprise Journey Spending vs Leisure Journey Spending

Whereas enterprise journey is a big trade, leisure journey is even larger. The desk beneath exhibits complete journey spending divided between enterprise and leisure journey based on Statista.

Leisure Spending Enterprise Spending

United States

75.4%

24.6%

China 84.4%

15.6%

Germany

83.8% 16.2%
United Kingdom 70.8%

29.2%

Japan

83.8% 16.2%
France 84.0%

16.0%

Mexico

95.0% 5.0%
Italy 83.6%

16.4%

India

95.3% 4.7%
Spain 88.1%

11.9%

Brazil 90.8%

9.2%

On common, solely 15.2% of journey spending comes from enterprise journey. 84.8% is from leisure journey.

Nevertheless, that breakdown just isn’t constant throughout all journey industries. Inns, eating, and vacationer actions usually make far more cash from leisure vacationers, however many airways truly earn a bigger share of income from enterprise vacationers.

In response to Investopedia, solely 12% of airline passengers are enterprise vacationers. Nevertheless, as a result of enterprise vacationers pay larger charges, extra usually guide last-minute, and usually tend to fly top quality, they’ll account for as much as 75% of airline earnings.

Whereas many leisure vacationers attempt to save as a lot cash on airfare as potential, firms are sometimes extra more likely to spend further for upgraded enterprise journey consolation.

Analysis from Enterprise Traveler discovered that 33% of worldwide enterprise journey flights are in premium class, and 13% of home enterprise journey flights are in premium class.

Whereas leisure journey is considerably bigger, enterprise journey spending remains to be a essential part of the journey trade.

Enterprise Traveler Demographics

Historically, nearly all of enterprise vacationers match inside a really distinct demographic. The typical enterprise traveler is a 42-year-old man.

However instances are altering. Youthful folks and girls are touring extra for enterprise, and these developments will doubtless change what enterprise journey seems to be like sooner or later.

Listed here are the important thing enterprise journey statistics regarding traveler demographics.

Enterprise Traveler Age

Usually, folks touring for enterprise usually tend to be in additional superior roles of their profession, and folks in management roles usually journey greater than others.

Enterprise Vacationers by Age

Age Group

% Of Enterprise Vacationers

18-29

16%

30-39

28%

40-49

27%

50-59

18%

60+

10%

The overwhelming majority of enterprise vacationers are of their 30s and 40s—people who find themselves within the stage of working up the ladder of their profession. The typical age for enterprise vacationers is 42.

Nevertheless, based on market analysis by Skift, the common age of enterprise vacationers is progressively shifting downward, and extra youthful persons are touring for work.

This may have dramatic impacts on the enterprise journey market, as youthful vacationers want Uber over taxis, trip leases over resorts, and are much less more likely to make reserving choices primarily based on journey loyalty applications.

Enterprise Traveler Gender

Traditionally, company vacationers have dominantly been males. A Bureau of Transportation Statistics report discovered that 77% of enterprise vacationers that 12 months had been males.

Nevertheless, that pattern is starting to alter. The desk beneath compares 2001 gender breakdown with up to date 2022 statistics for enterprise vacationers.

Gender Distinction in Enterprise Journey Over Time

Males

Girls

2001

77%

23%

2022

63%

37%

In 2022, 37% of enterprise journeys had been made by girls. That’s up 14% from the 2021 figures.

As workplaces around the globe make gradual progress towards gender equality, girls will take extra enterprise journeys than ever earlier than.

Apparently, whereas enterprise vacationers are more likely to be males, the alternative is true for leisure journey, based on analysis by Forbes. The desk beneath exhibits a comparability of the gender breakdown in enterprise journey and leisure journey.

Gender Distinction in Leisure and Enterprise Journey

Males

Girls

Leisure Vacationers

36%

64%

Enterprise Vacationers

63%

37%

64% of vacationers on leisure journeys are girls.

The demographics for enterprise and leisure journey should not aligned. The place the common enterprise traveler is a 42-year-old man, the common leisure traveler is a 47-year-old girl.

Clearly, girls are extra apt to journey than males outdoors the office, and the one purpose that males usually tend to journey for work is because of total gender inequality in enterprise. It is going to be attention-grabbing to see if girls surpass males in enterprise journey as firms transfer in direction of gender equality in workplaces.

Yearly Enterprise Journey Tendencies

As with most industries, enterprise journey has been rising steadily. As firms proceed to develop globally, worldwide collaboration will change into extra necessary, and enterprise journey will change into much more important.

The desk beneath exhibits the worldwide enterprise journey spending over time from 2007 to 2022 based on Statista.

12 months International Enterprise Journey Spending (Billions USD)
2007 $887
2008 $917
2009 $865
2010 $932
2011 $1022
2012 $1047
2013 $1098
2014 $1168
2015 $1208
2016 $1251

2017

$1325
2018 $1408
2019 $1412
2020 $670
2021 $690
2022 $1017

Previous to COVID-19, the one latest drop in enterprise journey spending occurred in 2009, throughout the recession. From 2008 to 2009, enterprise journey spending dropped 5.7%.

Over the subsequent 10 years, enterprise journey spending elevated by 63% and peaked at $1408 billion in 2019. This progress was adopted by an enormous drop, because the COVID-19 pandemic put a damper on journey.

From 2019 to 2020, enterprise journey spending dropped 53% on account of pandemic journey bans.

Whereas the journey trade as an entire has recovered rapidly from the pandemic, enterprise journey has had a slower return to pre-pandemic ranges based on Deloitte Insights.

Nonetheless, progress is on the best way. International enterprise journey spending is anticipated to surpass pre-pandemic ranges in 2024 and proceed to develop.

“Bleisure” Statistics

In recent times there was a rise in enterprise vacationers taking part in leisure actions or asking so as to add further time to their enterprise journeys to get pleasure from free time at their vacation spot. This rising type of enterprise tourism has earned the nickname “bleisure.”

Bleisure journeys ought to change into a extra necessary consideration for company journey managers when designing an organization’s journey coverage. When enterprise vacationers spend extra time as vacationers at their vacation spot, they’re extra more likely to see company journeys as a perk of their job somewhat than a burden.

The Expedia Group performed a survey of over 2,500 bleisure vacationers worldwide, and I’ve unpacked the important thing statistics from their report that it’s good to know.

Bleisure Journey Size

Since bleisure entails combining tourism, downtime, and leisure with enterprise journey, no two journeys are the identical. There are particular developments within the bleisure market although.

The primary necessary pattern is that bleisure is changing into more and more common. On common, 60% of enterprise journeys embrace time added on for leisure.

The size of a enterprise journey is necessary for vacationers deciding whether or not so as to add on leisure time to company journey. The desk beneath exhibits a breakdown of bleisure vacationers primarily based on the size of keep for enterprise.

Enterprise Journey Size

1 Night time

12%
2 Nights

39%

3 Nights

31%
4+ Nights

17%

The big majority of enterprise journeys that flip into bleisure journeys are 2 or 3 nights. 50% of survey respondents mentioned they had been probably to increase enterprise journey for leisure in the event that they needed to keep 2-3 nights. This time solely consists of the enterprise journey portion of the journey, and most of the people including leisure time into a visit will spend a number of further days.

When including leisure onto company journey, folks spend 3.9 working days and a pair of.9 leisure days on common. Which means leisure time can almost double the size of a visit.

Bleisure Journey Vacation spot Statistics

Worldwide enterprise journeys and home enterprise journeys are equally more likely to change into bleisure journey. 51% of home enterprise journeys are bleisure journeys, and 52% of worldwide journeys embrace bleisure.

The vacation spot additionally issues for enterprise vacationers when contemplating including leisure time to company journey. The desk beneath exhibits the highest options of a vacation spot that make a enterprise traveler extra doubtless so as to add leisure time to their journey.

Bleisure Vacation spot Priorities

Meals/eating places

56%
Seashores

52%

Pure sightseeing areas

51%
Climate

50%

Historic monuments/sightseeing

49%
Museums/artwork/tradition

41%

Iconic/bucket listing/should go to

39%
Out of doors recreation

34%

In response to this analysis from Expedia Enterprise Group, good meals, seashores, pure sightseeing, and good climate are the highest concerns that make for a well-liked bleisure vacation spot.

Bleisure Traveler Statistics

The variety of enterprise vacationers together with leisure in enterprise journeys varies by career. The desk beneath exhibits the highest 5 occupation classes for bleisure journey.

Bleisure Traveler Occupations

Know-how/IT/Software program

24%
Manufacturing

13%

Finance

12%
Healthcare

8%

Schooling

6%

By far probably the most bleisure vacationers work in know-how, IT, or software program. On the whole, know-how employees journey greater than most different professions, which is a key purpose for why know-how employees usually tend to embrace leisure time of their travels.

One other method to characterize bleisure vacationers is by how continuously they go away on enterprise journey.

Enterprise Journey Frequency of Bleisure Vacationers

As soon as a Week

5%

3+ Instances a Month

9%
As soon as or Twice a Month

23%

As soon as Each 2-3 Months

36%
As soon as Each 4-6 Months

20%

As soon as a 12 months

7%
Lower than As soon as a 12 months

<1%

Most enterprise vacationers including leisure to a company journey are those that take enterprise journeys each 2-3 months. The typical bleisure traveler takes 6.4 enterprise journeys every year.

Sources and Methodology

This report relies on a complete and in-depth evaluation of enterprise journey spending, demographics, geographic developments, and yearly developments. I gathered this information from market analysis corporations, tutorial research, and authorities companies.

The GBTA 2023 Enterprise Journey Index Outlook, ACCOR Enterprise of Journey Report, and Expedia’s Bleisure Journey Tendencies Report had been key sources of data for understanding the panorama of enterprise journey and the developments within the trade.

Different key sources for the enterprise journey developments and demographics on this report embrace the International Enterprise Journey Affiliation, Bureau of Transportation Statistics, Statista, Forbes, Enterprise Traveler, and Investopedia. Any sources not included listed below are cited instantly within the textual content.

There’s a great quantity of data and information obtainable throughout these sources, however it’s disjointed and sometimes tough to interpret. I compiled uncooked information and particular person findings from these sources right into a single cohesive useful resource.

I used this big selection of data to generate the tables, graphs, and statistics on this report.

Ultimate Enterprise Journey Findings

Journey is a key a part of many companies. It drives innovation, improves productiveness, and will increase earnings. Whereas COVID-19 created a brief pause, enterprise journey is again, and can solely be rising.

Enterprise journey solely accounts for about 15% of complete world journey spending, however it’s a key market section for a lot of industries, particularly airways. Enterprise vacationers usually tend to fly premium class and spend extra on journey total.

There are additionally a number of key elements driving change within the enterprise journey trade. Enterprise journey has historically been a male-dominated exercise, however increasingly girls are touring for enterprise. Youthful persons are additionally touring extra for enterprise than ever earlier than. Extra persons are creating “bleisure” journeys by including further days for leisure onto enterprise journeys.

If firms can latch onto these developments and create supportive and inclusive journey insurance policies, enterprise journey can change into each extra worthwhile to firms and extra rewarding for vacationers.

Enterprise Journey Statistics FAQs

Is enterprise journey rising?

Whereas enterprise journey nonetheless hasn’t recovered to pre-pandemic ranges, it’s steadily rising.

What share of flights are enterprise journey?

On common, round 12% of the passengers on a flight are touring for enterprise.

How large is the enterprise journey market?

In 2022, the enterprise journey trade accounted for $1 trillion in spending globally.

What firms spend probably the most on enterprise journey?

Amazon is the corporate that spends probably the most on enterprise journey.

Which industries have probably the most enterprise journey?

Tech and IT industries have probably the most enterprise journey.

Concerning the Writer

Jakob Thygerson

Jakob Thygerson is an outside journey seeker who collects sunburns, Nationwide Park maps, and path miles. He loves something that will get him outdoor, whether or not it’s on foot, on skis, on a motorcycle, or on the open highway. A local of the Mountain West, he’s most at dwelling in mountains and deserts with clear air and vivid stars.
He has a background in product design engineer and is aware of the ins and outs of supplies, design, and manufacturing processes. He loves utilizing this information to research out of doors gear and is an unrepentant gearhead.

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