At TravelDaily's Business Travel Conference in Shanghai on September 23, Suzanne Neufang, CEO of the Global Business Travel Association (GBTA), delivered a keynote titled “Business Travel at an Inflection Point: The Economics, Outlook and Trends Shaping What's Next in APAC and Beyond.” Her remarks underscored the resilience of corporate travel despite persistent headwinds from global economic uncertainty, geopolitical tensions, rising travel costs, and airline capacity constraints.
Neufang emphasized that business travel continues to prove its strategic value as companies reassess the importance of face-to-face meetings, client relationships, and business development. However, the explosive rebound seen immediately after the pandemic is giving way to a more measured pace of growth. While trip volumes are still rising, spending is expected to grow faster than the number of trips—a shift that will define the market over the next several years.
Global spending to top $2 trillion by 2030
According to GBTA's latest forecast, global business travel spending will exceed $1.7 trillion in 2026 and grow by around 6% in 2027 to reach approximately $1.8 trillion. By 2030, the figure is projected to surpass $2 trillion. This sustained growth signals that despite economic volatility, corporate travel remains a critical investment for companies worldwide.
The Asia Pacific region is emerging as the primary engine of this growth. APAC currently accounts for roughly 40% of global business travel spending, making it the largest regional market. In terms of trip volume, the region represents about 35% of the global total, also ranking first. GBTA forecasts that APAC business travel spending will grow by around 7.5% in 2026, significantly outpacing the global average, and will maintain an annual growth rate above 7% through 2027.
Within APAC, China plays an outsized role. The country is the world's second-largest business travel market, with spending expected to grow by nearly 6% in 2026. China alone accounts for approximately 60% of APAC's business travel spending, underscoring its centrality to the region's corporate travel ecosystem.
Neufang's insights come at a time when China's MICE sector is gaining international attention, as seen in the country's recent push for global MICE leadership. The growth in business travel spending aligns with broader trends in the region, where secondary cities are increasingly attracting both business and leisure travelers, as highlighted in Asia's secondary cities outpace capitals.
For travel professionals, the data reinforces the need to adapt to a market where higher spending per trip is the norm. Airlines, hoteliers, and travel management companies should prepare for a more discerning corporate traveler, one who values efficiency and outcomes over mere presence. The shift toward quality over quantity in business travel is a trend that will shape product offerings and service models for years to come.
As the industry looks ahead, the message from GBTA is clear: business travel is not just recovering—it is evolving. The focus on APAC, and China in particular, offers a roadmap for where growth will come from and how stakeholders can position themselves to capture it.
