Business trips & spend expected to rise during fiscal year: survey

The year ahead is expected to see a greater investment in business travel, according to a Flight Centre Travel Group’s new “State of the Market” survey.

The first-ever survey was conducted by Flight Centre’s corporate division, which analyzed more than 560 client responses across the globe from its flagship brands FCM Travel and Corporate Traveller.

The study revealed that 40 per cent of businesses globally plan to increase the amount they travel during this fiscal year (July 2024 to June 2025), compared to the same time period last year.

As well, 42 per cent of customers globally plan to increase their spend on travel, versus last year.

“It’s exciting to see the positive momentum and continued growth in business travel, with more and more customers not just embracing the return to the road, but also looking to add additional trips throughout the year,” said Flight Centre Travel Group Americas President Charlene Leiss in a statement.

“These encouraging figures reflect the unwavering commitment from companies to deepen their investment in business travel, demonstrating the strength and the resiliency of the industry right now,” said Leiss. “The plans to increase spend is a welcome sign for employees that strategically leverage travel to foster connections, increase collaboration, and drive innovation for their businesses.”

The breakdown

The breakdown of expected travel frequency and spend by customers surveyed globally is below, along with the results for just those customers based in the Americas.

Expected Travel Frequency in FY25

10% globally (12% Americas) – intend to increase travel by more than 20%

30% globally (29% Americas) – intend to increase travel by up to 20% more

35% globally (40% Americas) – intend to travel about the same amount

10% globally (9% Americas) – anticipate a reduction in travel

15% globally (10% Americas) – uncertain on plans to increase/decrease travel

Expected Travel Spend in FY25

6% globally (8% Americas) – intend to increase spend by more than 20%

36% globally (39% Americas) – intend to increase spend by up to 20% more

31% globally (32% Americas) – intend to spend about the same amount

11% globally (8% Americas) – anticipate a reduction in spend

16% globally (13% Americas) – uncertain on plans to increase/decrease spend.

The survey was conducted online between June 3, 2024 to July 11, 2024. A random sample of 562 responses were obtained from FCM Travel and Corporate Traveller customers, specifically decision-makers, travel managers, and authorized travel bookers.

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