WTTC expects business travel spending to recover in 2022

According to the report Adapting to endemic Covid-19: Outlook for business travel, carried out by the World Travel and Tourism Council (WTTC), in association with consulting firm McKinsey & Company, Global business travel could increase by more than a quarter this year It will reach up to two-thirds of pre-pandemic levels by 2022.

He pointed out that business trips were affected by the Covid-19 health crisis and were slower to recover.

As business travel is vital to many sectors of the global economy, It is important that all stakeholders come together to find solutions that will aid your recovery.

According to the same report, the momentum for business travel with a 26 percent increase in global spending this year, compared to 2020, will be followed by an additional 34 percent growth in 2022.

He noted that the latter comes as a result of a 61 percent drop in spending on business travel in 2020.Compared to the previous year, after widespread travel restrictions with significant regional differences were introduced during the worldwide health crisis.

WTTC noted that last year, travel and tourism sector Losses of nearly $4.5 trillion More than 62 million people lost their jobs.

Spending by domestic visitors fell by 45 percent, while spending by international tourists fell by 69.4 percent.

All this compared to 2019 levels, when most major countries relied on business travel for 20 percent of tourism.

In order to speed up the revival of commercial travel, The report recommends companies adjust their revenue models, expand geographic focus, and improve digital services.

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He said recovery will also depend on greater cooperation between the public and private sectors, as well as fostering new synergies.

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