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Global Business Travel and Events Prices Set to Stabilize Through 2025 and 2026, Amid Looming Economic Uncertainty – Image Credit GBTA
After several years of pandemic-induced volatility and recovery-driven spikes, business travel prices began showing signs of moderation last year. Now, prices are set to stabilize further over the next 18 months, according to the latest edition of the annual Global Business Travel Forecast released by CWT and GBTA.
The report uses anonymized data generated by CWT and GBTA, with publicly available industry information, and econometric and statistical modelling developed by the Avrio Institute. It projects modest annual fluctuations in airfares, hotel rates, and ground transportation costs for corporate travel programs in 2025 and 2026. This reflects more balanced supply-demand dynamics and tempered macroeconomic growth.
Airline capacity, room supply, and car rental fleets are gradually catching up with demand – though inflationary pressures, economic uncertainty, policy shifts, and geopolitical tensions remain key watchpoints.
Given the looming threat of a global economic downturn amid rising trade tensions, this year’s report includes two scenarios:
“This year’s forecast shows encouraging signs that business travel pricing is normalizing further – and that’s creating real opportunities for corporate travel buyers,” said Patrick Andersen, Chief Executive Officer, CWT. “While economic uncertainty hasn’t gone away, corporate travel buyers are regaining leverage and have more room to optimize their programs. Whether it’s capitalizing on localized pricing trends, securing added value through smarter negotiations, or rethinking event formats for greater impact, this is a moment to be proactive and strategic. With the right approach, organizations can stretch their travel budgets further and deliver even greater returns.”
“The indicators are pointing to a more predictable era ahead for business travel pricing, with travel managers navigating a landscape that’s steadier than the post-pandemic surge,” said Suzanne Neufang, CEO, GBTA. “However, that landscape will continue to be shaped by inflation, supply constraints, and evolving traveler expectations. The good news is that with better data and clearer trends, buyers can plan with more confidence. Success will come from staying informed and flexible, while aligning travel decisions with broader business goals.”
KEY FINDINGS
| GLOBAL YEAR-OVER-YEAR BUSINESS TRAVEL & EVENTS PRICE CHANGES ($USD) | |||||
| Base Case Forecast | Global Recessionary Forecast | ||||
| 2024 | 2025 | 2026 | 2025 | 2026 | |
| Air – Average Ticket Price | +4.8% $721 | -2.2% $705 | +0.4% $708 | -5.7% $680 | -1.0% $673 |
| Hotel – Average Daily Rate | +1.9% $161 | +1.2% $163 | +1.8% $166 | -3.7% $155 | -1.3% $153 |
| Car – Daily Rental Rate | +6.1% $45.40 | +2.9% $46.70 | +2.8% $48.00 | -1.3% $44.80 | -1.8% $44.00 |
| Meetings & Events – Average Cost-Per-Attendee Per Day | +4.5% $162 | +3.7% $168 | +2.4% $172 | -2.5% $158 | -1.3% $156 |
Source: CWT/GBTA 2026 Annual Global Business Travel Forecast (all pricing detailed within the report and this release is $ USD)
Air
After a 4.8% increase in the global average ticket price (ATP) in 2024, airfares are expected to decline by 2.2% in 2025, followed by a modest 0.4% uptick in 2026. This shift reflects a gradual increase in capacity, easing fuel and input costs, and a normalization of travel patterns.
However, aircraft delivery delays from major manufacturers—along with ongoing maintenance and spare parts constraints—are hampering capacity recovery across many regions, potentially continuing to place upward pressure on prices. If a global recession occurs, ATPs could fall more sharply – by 5.7% in 2025 and another 1% in 2026 – as demand drops and competition intensifies.
Regional highlights:
Hotel
Hotel pricing continues to be underpinned by high occupancy rates and constrained room supply. Despite central banks slowly easing interest rates, elevated borrowing costs and tight lending standards are limiting new hotel development, keeping supply growth below long-term averages.
Globally, the average daily rate (ADR) increased 1.9% in 2024 to $161. Moderate growth of 1.2% is forecast for 2025, followed by a 1.8% rise in 2026. In a recessionary scenario, ADRs could decline by 3.7% in 2025 and 1.3% in 2026.
Regional highlights:
Ground transportation
After years of pandemic-era volatility, global car rental rates are stabilizing, though at a higher level than pre-COVID norms. Average daily rates rose 6.1% in 2024, with more moderate increases of 2.9% in 2025 and 2.8% in 2026 projected under the baseline scenario. In a recessionary environment, global daily rates could decrease 1.3% in 2025 and 1.8% in 2026 as demand softens.
Vehicle availability has improved significantly. Fleets are more balanced, and rental companies are rotating out higher-cost vehicles acquired during supply chain disruptions. Lower depreciation costs and healthy competition are helping to contain further price increases.
Regional highlights:
Meetings and events
The average cost per attendee at corporate meetings and events climbed 4.5% in 2024, driven by rising labor and production costs, inflationary pressures, and a shift toward smaller, more curated, experience-led events. A softening in growth is anticipated going forward: average per-attendee costs are projected to increase 3.7% in 2025 and 2.4% in 2026, broadly in line with headline inflation rates across G20 economies.
Key trends:
With cost pressures unlikely to ease significantly, meeting planners will need to rethink event strategies – optimizing event types, locations, formats, and supplier relationships – to deliver impact within budget.
For more detailed information, including regional breakdowns and in-depth insights on pricing trends, please view the full Global Forecast report.
Global Business Travel and Events Prices Set to Stabilize Through 2025 and 2026, Amid Looming Economic Uncertainty – Image Credit GBTA
After several years of pandemic-induced volatility and recovery-driven spikes, business travel prices began showing signs of moderation last year. Now, prices are set to stabilize further over the next 18 months, according to the latest edition of the annual Global Business Travel Forecast released by CWT and GBTA.
The report uses anonymized data generated by CWT and GBTA, with publicly available industry information, and econometric and statistical modelling developed by the Avrio Institute. It projects modest annual fluctuations in airfares, hotel rates, and ground transportation costs for corporate travel programs in 2025 and 2026. This reflects more balanced supply-demand dynamics and tempered macroeconomic growth.
Airline capacity, room supply, and car rental fleets are gradually catching up with demand – though inflationary pressures, economic uncertainty, policy shifts, and geopolitical tensions remain key watchpoints.
Given the looming threat of a global economic downturn amid rising trade tensions, this year’s report includes two scenarios:
“This year’s forecast shows encouraging signs that business travel pricing is normalizing further – and that’s creating real opportunities for corporate travel buyers,” said Patrick Andersen, Chief Executive Officer, CWT. “While economic uncertainty hasn’t gone away, corporate travel buyers are regaining leverage and have more room to optimize their programs. Whether it’s capitalizing on localized pricing trends, securing added value through smarter negotiations, or rethinking event formats for greater impact, this is a moment to be proactive and strategic. With the right approach, organizations can stretch their travel budgets further and deliver even greater returns.”
“The indicators are pointing to a more predictable era ahead for business travel pricing, with travel managers navigating a landscape that’s steadier than the post-pandemic surge,” said Suzanne Neufang, CEO, GBTA. “However, that landscape will continue to be shaped by inflation, supply constraints, and evolving traveler expectations. The good news is that with better data and clearer trends, buyers can plan with more confidence. Success will come from staying informed and flexible, while aligning travel decisions with broader business goals.”
KEY FINDINGS
| GLOBAL YEAR-OVER-YEAR BUSINESS TRAVEL & EVENTS PRICE CHANGES ($USD) | |||||
| Base Case Forecast | Global Recessionary Forecast | ||||
| 2024 | 2025 | 2026 | 2025 | 2026 | |
| Air – Average Ticket Price | +4.8% $721 | -2.2% $705 | +0.4% $708 | -5.7% $680 | -1.0% $673 |
| Hotel – Average Daily Rate | +1.9% $161 | +1.2% $163 | +1.8% $166 | -3.7% $155 | -1.3% $153 |
| Car – Daily Rental Rate | +6.1% $45.40 | +2.9% $46.70 | +2.8% $48.00 | -1.3% $44.80 | -1.8% $44.00 |
| Meetings & Events – Average Cost-Per-Attendee Per Day | +4.5% $162 | +3.7% $168 | +2.4% $172 | -2.5% $158 | -1.3% $156 |
Source: CWT/GBTA 2026 Annual Global Business Travel Forecast (all pricing detailed within the report and this release is $ USD)
Air
After a 4.8% increase in the global average ticket price (ATP) in 2024, airfares are expected to decline by 2.2% in 2025, followed by a modest 0.4% uptick in 2026. This shift reflects a gradual increase in capacity, easing fuel and input costs, and a normalization of travel patterns.
However, aircraft delivery delays from major manufacturers—along with ongoing maintenance and spare parts constraints—are hampering capacity recovery across many regions, potentially continuing to place upward pressure on prices. If a global recession occurs, ATPs could fall more sharply – by 5.7% in 2025 and another 1% in 2026 – as demand drops and competition intensifies.
Regional highlights:
Hotel
Hotel pricing continues to be underpinned by high occupancy rates and constrained room supply. Despite central banks slowly easing interest rates, elevated borrowing costs and tight lending standards are limiting new hotel development, keeping supply growth below long-term averages.
Globally, the average daily rate (ADR) increased 1.9% in 2024 to $161. Moderate growth of 1.2% is forecast for 2025, followed by a 1.8% rise in 2026. In a recessionary scenario, ADRs could decline by 3.7% in 2025 and 1.3% in 2026.
Regional highlights:
Ground transportation
After years of pandemic-era volatility, global car rental rates are stabilizing, though at a higher level than pre-COVID norms. Average daily rates rose 6.1% in 2024, with more moderate increases of 2.9% in 2025 and 2.8% in 2026 projected under the baseline scenario. In a recessionary environment, global daily rates could decrease 1.3% in 2025 and 1.8% in 2026 as demand softens.
Vehicle availability has improved significantly. Fleets are more balanced, and rental companies are rotating out higher-cost vehicles acquired during supply chain disruptions. Lower depreciation costs and healthy competition are helping to contain further price increases.
Regional highlights:
Meetings and events
The average cost per attendee at corporate meetings and events climbed 4.5% in 2024, driven by rising labor and production costs, inflationary pressures, and a shift toward smaller, more curated, experience-led events. A softening in growth is anticipated going forward: average per-attendee costs are projected to increase 3.7% in 2025 and 2.4% in 2026, broadly in line with headline inflation rates across G20 economies.
Key trends:
With cost pressures unlikely to ease significantly, meeting planners will need to rethink event strategies – optimizing event types, locations, formats, and supplier relationships – to deliver impact within budget.
For more detailed information, including regional breakdowns and in-depth insights on pricing trends, please view the full Global Forecast report.
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The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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