The days of back-to-back business trips may be numbered, at least for now.
New figures from the Global Business Travel Association (GBTA) reveal a clear slowdown in motion, most likely influenced by recent U.S. government measures. Nearly a third of global companies are preparing to trim their corporate travel plans in 2025, with sharp drops expected in both the number of trips taken and the amount spent on them.
According to the GBTA’s latest industry poll, 29% of global travel buyers say business travel volume at their organisations will decline next year, with an average projected reduction of 21%. Travel budgets are also tightening, with 27% expecting to cut spending by a similar margin, a move that could shave off up to $88 billion from the anticipated $1.63 trillion global spend.
This looks like an intentional pullback, triggered by a combination of geopolitical tension and internal cost pressures. Recent US government measures, including tariffs, stricter border controls, and new entry restrictions, are adding layers of uncertainty for companies that rely on international movement.
Reconsideration of corporate travel policies
The impact is rippling out to the wider travel ecosystem. Among suppliers and intermediaries, 37% anticipate a revenue hit in 2025, with losses averaging 18%. And businesses are already making adjustments. One in five have cancelled or are considering pulling out of events scheduled to take place in the U.S.
A similar number are shifting meetings out of the country altogether, with companies based outside the US three times more likely to relocate events. At the same time, a quarter of travel buyers are reconsidering their corporate travel policies for trips involving the US.
Suzanne Neufang, CEO, GBTA, said: “While the outlook for global business travel was incredibly strong coming into 2025, our research now shows increasing concerns and uncertainty within our industry, considering recent actions taken by the U.S. government. Travelling for work plays a vital role in supporting business growth, resilient economies, strong diplomatic ties and valuable connections. Productive and essential business travel is threatened in times of economic uncertainty or in an environment of additional barriers and restrictions. This undermines economic prosperity and damages the many sectors that rely on global business travel to survive and thrive.”
Politics is not the only culprit of these changes. Concerns over rising costs, shrinking budgets, and red tape around visas and travel documentation are leading companies to reconsider the value of in-person meetings. Many are also facing pushback from employees themselves, as more express reluctance to travel to the U.S. due to safety concerns or increased administrative burden.