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Go Global Travel

Go Global Travel President: Nino Tager

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Private Acquired by Yanolja Co., Ltd.

https://goglobal.travel/

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Atlas Travel & Technology Group, Inc.

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Go Global Travel Ltd. Market Share Analysis for May 2024

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Go global travel Integration

Go Global Travel specializes in hotels in Europe and the Mediterranean as well as in Asia, North and South America, providing access to online booking of over almost 60,000 hotels. The offers from Go Global Travel attract customers with their affordable rates and detailed information on each hotel.

Hotels Integration

Number of units: over 1,000,000 hotels Specialization: worldwide with focus on Europe, South-East Asia, the USA and Latin America countries Description language: English Supported currencies: according to the contract

The part of GP Travel Hub, Go Global Module enables to search and book services through Go Global, a consolidator of hotel groups and chains, through their API.

Basic module features:

  • Search for a hotel by city, category, hotel name, dates of stay, number of rooms and tourists
  • View detailed hotel descriptions
  • View price breakdown per day
  • View information on penalty charges
  • Book hotels
  • Send order comments to the supplier
  • Print out vouchers
  • Cancel hotel bookings

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  • Travel, Tourism & Hospitality
  • Global change in travel and tourism revenue due to COVID-19 2026-2028

Forecasted change in revenue from the travel and tourism industry due to the coronavirus (COVID-19) pandemic worldwide from 2026 to 2028 (in million U.S. dollars)

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Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

The market consists of five further markets.

  • The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
  • The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
  • The Hotels market includes stays in hotels and professionally run guest houses.
  • The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
  • The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

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Accommodation

  • Monthly hotel occupancy rates worldwide 2020-2023, by region
  • COVID-19's effect on hotel KPIs in the U.S. as of December 25, 2021
  • COVID-19: year-on-year drop in hotel occupancy worldwide 2020, by country
  • Monthly average hotel daily rate worldwide 2018-2020, by region

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Statistics on " Coronavirus: impact on the accommodation industry worldwide "

  • Global change in travel and tourism revenue due to COVID-19 by region 2026-2028
  • Monthly hotel revenue per available room worldwide 2018-2020 by region
  • Global change in active Airbnb rentals due to COVID-19 Jan-Mar 2020, by country
  • COVID-19: impact on U.S. hotel industry GDP contribution 2020
  • COVID-19: impact on guest spending in the U.S. hotel industry 2020
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  • Coronavirus impact on hotel occupancy rate in China 2020
  • Coronavirus impact on hotel occupancy rate in China 2020, by selected city
  • Share of demand for hotels after coronavirus outbreak in China 2020, by type
  • Coronavirus impact on Airbnb's monthly revenue in Beijing, China Q1 2020
  • Weekly YoY growth in Airbnb bookings in Beijing, China 2020
  • Impact of the coronavirus (COVID-19) on tourism revenues in Italy 2020, by sector
  • Loss of tourism expenditure due to the impact of coronavirus in Italy 2020, by sector
  • Percentage change in tourism expenditure due to coronavirus in Italy 2020, by sector
  • Share of companies of the tourism industry in Italy at high risk of insolvency 2020
  • Main measures in the hotel industry in Italy during the coronavirus 2020
  • Weekly YoY growth in Airbnb bookings in Rome 2020
  • COVID-19: impact on hotel occupancy rates in France as of March 2020
  • COVID-19: opinion of French tourism professionals on accommodations in 2020
  • COVID-19: impact on hotel occupancy rates in Paris as of March 2020
  • COVID-19: overview of the impact on hotels in Spain in 2020
  • COVID-19 impact on hotels in Spain 2020
  • COVID-19: intention to stay in a hotel in Spain in 2020
  • COVID-19: fall in bookings for holiday rental platforms in Spain in 2020

Other statistics that may interest you Coronavirus: impact on the accommodation industry worldwide

  • Premium Statistic Global change in travel and tourism revenue due to COVID-19 2026-2028
  • Premium Statistic Global change in travel and tourism revenue due to COVID-19 by region 2026-2028
  • Premium Statistic Monthly hotel occupancy rates worldwide 2020-2023, by region
  • Premium Statistic Monthly hotel revenue per available room worldwide 2018-2020 by region
  • Premium Statistic Monthly average hotel daily rate worldwide 2018-2020, by region
  • Premium Statistic COVID-19: year-on-year drop in hotel occupancy worldwide 2020, by country
  • Premium Statistic Global change in active Airbnb rentals due to COVID-19 Jan-Mar 2020, by country

United States

  • Premium Statistic COVID-19's effect on hotel KPIs in the U.S. as of December 25, 2021
  • Premium Statistic COVID-19: impact on U.S. hotel industry GDP contribution 2020
  • Premium Statistic COVID-19: impact on guest spending in the U.S. hotel industry 2020
  • Premium Statistic COVID-19: impact on U.S. hotel business sales 2020
  • Premium Statistic COVID-19: impact on U.S. hotel room nights 2020
  • Premium Statistic COVID-19: impact on U.S. hotel industry jobs 2020
  • Premium Statistic COVID-19: impact on U.S. hotel industry pay 2020
  • Premium Statistic Coronavirus impact on hotel occupancy rate in China 2020
  • Premium Statistic Coronavirus impact on hotel occupancy rate in China 2020, by selected city
  • Premium Statistic Share of demand for hotels after coronavirus outbreak in China 2020, by type
  • Premium Statistic Coronavirus impact on Airbnb's monthly revenue in Beijing, China Q1 2020
  • Premium Statistic Weekly YoY growth in Airbnb bookings in Beijing, China 2020
  • Premium Statistic Impact of the coronavirus (COVID-19) on tourism revenues in Italy 2020, by sector
  • Premium Statistic Loss of tourism expenditure due to the impact of coronavirus in Italy 2020, by sector
  • Premium Statistic Percentage change in tourism expenditure due to coronavirus in Italy 2020, by sector
  • Premium Statistic Share of companies of the tourism industry in Italy at high risk of insolvency 2020
  • Premium Statistic Main measures in the hotel industry in Italy during the coronavirus 2020
  • Premium Statistic Weekly YoY growth in Airbnb bookings in Rome 2020
  • Premium Statistic COVID-19: impact on hotel occupancy rates in France as of March 2020
  • Premium Statistic COVID-19: opinion of French tourism professionals on accommodations in 2020
  • Premium Statistic COVID-19: impact on hotel occupancy rates in Paris as of March 2020
  • Premium Statistic COVID-19: overview of the impact on hotels in Spain in 2020
  • Premium Statistic COVID-19 impact on hotels in Spain 2020
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What is the future of travel?

A hand with bright yellow nails reaches for the handle of a blue suitcase.

All aboard! After the pandemic upended life and leisure as we know it, travel is roaring back. The industry is set to make a full recovery by the end of 2024, after losing 75 percent of its value in 2020. Much of this has been so-called “revenge travel,” or people embarking on international or bucket list trips that were delayed by the pandemic. But domestic travel is recovering quickly too and is set to represent 70 percent of travel spending by 2030.

Get to know and directly engage with senior McKinsey experts on travel and tourism

Margaux Constantin is a partner in McKinsey’s Dubai office, Matteo Pacca is a senior partner in the Paris office, and Vik Krishnan is a senior partner in the Bay Area office.

We’ve done a deep dive into the latest travel trends and how industry players can adjust accordingly in The state of travel and hospitality 2024 report. Check out the highlights below, as well as McKinsey’s insights on AI in travel, mass tourism, and much more.

Learn more about McKinsey’s Travel, Logistics, and Infrastructure Practice .

Who are today’s travelers, and what do they want?

In February and March 2024, McKinsey surveyed  more than 5,000 people in China, Germany, the United Arab Emirates (UAE), the United Kingdom, and the United States who had taken at least one leisure trip in the past two years. Here are six highlights from the results of that survey:

  • Travel is a top priority, especially for younger generations. Sixty-six percent of travelers we surveyed said they are more interested in travel now than before the COVID-19 pandemic. And millennials and Gen Zers  are traveling more and spending a higher share of their income on travel than their older counterparts.
  • Younger travelers are keen to travel abroad. Gen Zers and millennials who responded to our survey are planning nearly an equal number of international and domestic trips in 2024. Older generations are planning to take twice as many domestic trips.
  • Baby boomers are willing to spend if they see value. Baby boomers still account for 20 percent of overall travel spending. They are willing to spend on comforts such as nonstop flights. On the other hand, they are more willing to forego experiences to save money while traveling, unlike Gen Zers who will cut all other expense categories before they trim experiences.
  • Travel is a collective story, with destinations as the backdrop. Travelers both want to hear other travelers’ stories and share their own. Ninety-two percent of younger travelers were inspired by social media in some shape or form for their last trip.
  • What travelers want depends on where they’re from. Sixty-nine percent of Chinese respondents said they plan to visit a famous sight on their next trip, versus the 20 percent of European and North American travelers who said the same. Respondents living in the UAE also favor iconic destinations, as well as shopping and outdoor activities.

Learn more about McKinsey’s  Travel, Logistics, and Infrastructure Practice .

What are the top three travel industry trends today?

Travel is back, but traveler flows are shifting. McKinsey has isolated three major themes for industry stakeholders to consider as they look ahead.

  • The bulk of travel spending is close to home. Seventy-five percent of travel spend is domestic. The United States is currently the world’s largest domestic travel market, but China is set to overtake it in the coming years. Stakeholders should make sure they capture the full potential of domestic travelers before turning their attention abroad.
  • New markets such as India, Southeast Asia, and Eastern Europe are growing sources of outbound tourism. Indians’ travel spending is expected to grow 9 percent per year between now and 2030; annual growth projections for Southeast Asians and Eastern Europeans are both around 7 percent.
  • Unexpected destinations are finding new ways to lure travelers and establish themselves alongside enduring favorites. Rwanda, for example, has capitalized on sustainable tourism by limiting gorilla trekking permits and directing revenue toward conservation.

Circular, white maze filled with white semicircles.

Introducing McKinsey Explainers : Direct answers to complex questions

For a more in-depth look at these trends, check out McKinsey’s State of travel and hospitality 2024   report .

How will AI change how people travel?

In the 1950s, the introduction of the jet engine dramatically reduced travel times, changing the way people traveled forever. Now AI is upending the industry  in a similarly fundamental way. Industry players down to individual travelers are using advances in generative AI (gen AI) , machine learning , and deep learning  to reimagine what it means to plan, book, and experience travel. “It’s quite clear,” says McKinsey partner Vik Krishnan , “that gen AI significantly eases  the process of travel discovery.”

For travel companies, the task now is to rethink how they interact with customers, develop products and services, and manage operations in the age of AI. According to estimates by McKinsey Digital, companies that holistically address digital and analytics opportunities have the potential to see an earnings improvement of up to 25 percent .

McKinsey and Skift Research interviewed executives from 17 companies across five types of travel business. Here are three key findings on how travel companies can reckon with emerging technologies, drawn from the resulting report The promise of travel in the age of AI :

  • Segmentation. Companies can use AI to create hyperspecific customer segments to guide how they interact with and serve customers. Segmentation can be based on a single macro characteristic (such as business versus leisure), or it can be so specific as to relate to just one customer.
  • Surprise and delight. In the travel context, gen AI could take the form of digital assistants that interact with customers throughout their journeys, providing personalized trip itineraries and tailored recommendations and helping to resolve unexpected disruptions.
  • Equipping workers better. AI tools can free up frontline workers’ time, allowing them to focus more on personal customer interactions. These tools can also shorten the training time for new hires and quickly upskill  the existing workforce.

AI is important, yes. But, according to Ella Alkalay Schreiber, general manager (GM) of fintech at Hopper, “The actual challenge is to understand the data, ask the right questions, read prediction versus actual, and do this in a timely manner. The actual challenge is the human thinking, the common sense .”

How is mass tourism changing travel?

More people are traveling than ever before. The most visited destinations are experiencing more concentrated flows of tourists ; 80 percent of travelers visit just 10 percent of the world’s tourist destinations. Mass tourism can encumber infrastructure, frustrate locals, and even harm the attractions that visitors came to see in the first place.

Tourism stakeholders can collectively look for better ways to handle visitor flows before they become overwhelming. Destinations should remain alert to early warning signs about high tourism concentration and work to maximize the benefits of tourism, while minimizing its negative impacts.

For one thing, destinations should understand their carrying capacity of tourists—that means the specific number of visitors a destination can accommodate before harm is caused to its physical, economic, or sociocultural environment. Shutting down tourism once the carrying capacity is reached isn’t always possible—or advisable. Rather, destinations should focus on increasing carrying capacity to enable more growth.

Next, destinations should assess their readiness to handle mass tourism and choose funding sources and mechanisms that can address its impacts. Implementing permitting systems for individual attractions can help manage capacity and mitigate harm. Proceeds from tourism can be reinvested into local communities to ensure that residents are not solely responsible for repairing the wear and tear caused by visitors.

After risks and funding sources have been identified, destinations can prepare for growing tourist volumes in the following ways:

  • Build and equip a tourism-ready workforce to deliver positive tourism experiences.
  • Use data (gathered from governments, businesses, social media platforms, and other sources) to manage visitor flows.
  • Be deliberate about which tourist segments to attract (business travelers, sports fans, party groups, et cetera), and tailor offerings and communications accordingly.
  • Distribute visitor footfall across different areas, nudging tourists to visit less-trafficked locations, and during different times, promoting off-season travel.
  • Be prepared for sudden, unexpected fluctuations triggered by viral social media and cultural trends.
  • Preserve cultural and natural heritage. Engage locals, especially indigenous people, to find the balance between preservation and tourism.

How can the travel sector accelerate the net-zero transition?

Global warming is getting worse, and the travel sector contributes up to 11 percent of total carbon emissions. Many consumers are aware that travel is part of the problem, but they’re reticent to give up their trips: travel activity is expected to soar by 85 percent  from 2016 to 2030. Instead, they’re increasing pressure on companies in the travel sector to achieve net zero . It’s a tall order: the range of decarbonization technologies in the market is limited, and what’s available is expensive.

But decarbonization doesn’t have to be a loss-leading proposition. Here are four steps  travel companies can take toward decarbonization that can potentially create value:

  • Identify and sequence decarbonization initiatives. Awareness of decarbonization levers is one thing; implementation is quite another. One useful tool to help develop an implementation plan is the marginal abatement cost curve pathway framework, which provides a cost-benefit analysis of individual decarbonization levers and phasing plans.
  • Partner to accelerate decarbonization of business travel. Many organizations will reduce their business travel, which accounts for 30 percent of all travel spend. This represents an opportunity for travel companies to partner with corporate clients on decarbonization. Travel companies can support their partners in achieving their decarbonization goals by nudging corporate users to make more sustainable choices, while making reservations and providing data to help partners track their emissions.
  • Close the ‘say–do’ gap among leisure travelers. One McKinsey survey indicates that 40 percent of travelers globally say they are willing to pay at least 2 percent more for carbon-neutral flights. But Skift’s latest consumer survey reveals that only 14 percent  of travelers said they actually paid more for sustainable travel options. Travel companies can help close this gap by making sustainable options more visible during booking and using behavioral science to encourage travelers to make sustainable purchases.
  • Build new sustainable travel options for the future. The travel sector can proactively pioneer sustainable new products and services. Green business building will require companies to create special initiatives, led by teams empowered to experiment without the pressure of being immediately profitable.

What’s the future of air travel?

Air travel is becoming more seasonal, as leisure travel’s increasing share of the market creates more pronounced summer peaks. Airlines have responded by shifting their schedules to operate more routes at greater frequency during peak periods. But airlines have run into turbulence when adjusting to the new reality. Meeting summer demand means buying more aircraft and hiring more crew; come winter, these resources go unutilized, which lowers productivity . But when airlines don’t run more flights in the summer, they leave a lot of money on the table.

How can airlines respond to seasonality? Here are three approaches :

  • Mitigate winter weakness by employing conventional pricing and revenue management techniques, as well as creative pricing approaches (including, for example, monitoring and quickly seizing on sudden travel demand spikes, such as those created by a period of unexpectedly sunny weather).
  • Adapt to seasonality by moving crew training sessions to off-peak periods, encouraging employee holiday taking during trough months, and offering workers seasonal contracts. Airlines can also explore outsourcing of crew, aircraft, maintenance, and even insurance.
  • Leverage summer strengths, ensuring that commercial contracts reflect summer’s higher margins.

How is the luxury travel space evolving?

Quickly. Luxury travelers are not who you might expect: many are under the age of 60 and not necessarily from Europe or the United States. Perhaps even more surprisingly, they are not all millionaires: 35 percent of luxury-travel spending is by travelers with net worths between $100,000 and $1 million. Members of this group are known as aspirational luxury travelers, and they have their own set of preferences. They might be willing to spend big on one aspect of their trip—a special meal or a single flight upgrade—but not on every travel component. They prefer visibly branded luxury and pay close attention to loyalty program points and benefits .

The luxury-hospitality space is projected to grow faster than any other segment, at 6 percent per year  through 2025. And competition for luxury hotels is intensifying too: customers now have the option of renting luxurious villas with staff, or booking nonluxury hotels with luxury accoutrements such as rainfall showerheads and mattress toppers.

Another critical evolution is that the modern consumer, in the luxury space and elsewhere, values experiences over tangible things (exhibit).

Luxury properties may see more return from investing in a culture of excellence—powered by staff who anticipate customer needs, exceed expectations, create cherished memories, and make it all feel seamless—than in marble floors and gold-plated bath fixtures. Here are a few ways luxury properties can foster a culture of excellence :

  • Leaders should assume the role of chief culture officer. GMs of luxury properties should lead by example, to help nurture a healthy and happy staff culture, and listen and respond to staff concerns.
  • Hire for personalities, not resumes. “You can teach someone how to set a table,” said one GM we interviewed, “but you can’t teach a positive disposition.”
  • Celebrate and reward employees. Best-in-class service is about treating customers with generosity and care. Leaders in the service sector can model this behavior by treating employees similarly.
  • Create a truly distinctive customer experience . McKinsey research has shown that the top factor influencing customer loyalty in the lodging sector is “an experience worth paying more for”—not the product. Train staff to focus on tiny details as well as major needs to deliver true personalization.

What’s the latest in travel loyalty programs?

Loyalty programs are big business . They’ve evolved past being simply ways to boost sales or strengthen customer relationships; now, for many travel companies, they are profit centers in their own right. One major development was that travel companies realized they could sell loyalty points in bulk to corporate partners, who in turn offered the points to their customers as rewards. In 2019, United’s MileagePlus loyalty program sold $3.8 billion worth of miles to third parties, which accounted for 12 percent of the airline’s total revenue for that year. In 2022, American Airlines’ loyalty program brought in $3.1 billion in revenue, and Marriott’s brought in $2.7 billion.

But as this transition has happened, travel players have shifted focus away from the original purpose of these programs. Travel companies are seeing these loyalty programs primarily as revenue generators, rather than ways to improve customer experiences . As a result, loyalty program members have become increasingly disloyal. Recent loyalty surveys conducted by McKinsey revealed a steep decline in the likelihood that a customer would recommend airline, hotel, and cruise line loyalty programs to a friend. The same surveys also found that airline loyalty programs are driving fewer customer behavior changes than they used to.

So how can travel brands win customers’ loyalty back? Here are three steps to consider:

  • Put experience at the core of loyalty programs. According to our 2023 McKinsey Travel Loyalty Survey , American respondents said they feel more loyal to Amazon than to the top six travel players combined, despite the absence of any traditional loyalty program. One of the reasons for Amazon’s success may be the frictionless experience it provides customers. Companies should strive to design loyalty programs around experiential benefits that make travelers feel special and seamlessly integrate customer experiences between desktop, mobile, and physical locations.
  • Use data to offer personalization  to members. Travel brands have had access to customer data for a long time. But many have yet to deploy it for maximum value. Companies can use personalization to tailor both experiences and offers for loyalty members; our research has shown that 78 percent  of consumers are more likely to make a repeat purchase when offered a personalized experience.
  • Rethink partnerships. Traditionally, travel companies have partnered with banks to offer cobranded credit cards. But many credit card brands now offer their own, self-branded travel rewards ecosystems. These types of partnerships may have diminishing returns in the future. When rethinking partnerships, travel brands should seek to build richer connections with customers, while boosting engagement. Uber’s partnership with Marriott, for example, gives users the option to link the brands’ loyalty programs, tapping into two large customer bases and providing more convenient travel experiences.

In a changing travel ecosystem, travel brands will need to ask themselves some hard questions if they want to earn back their customers’ loyalty.

Learn more about McKinsey’s Travel, Logistics, and Infrastructure Practice . And check out travel-related job opportunities if you’re interested in working at McKinsey.

Articles referenced include:

  • “ Updating perceptions about today’s luxury traveler ,” May 29, 2024, Caroline Tufft , Margaux Constantin , Matteo Pacca , and Ryan Mann
  • “ The way we travel now ,” May 29, 2024, Caroline Tufft , Margaux Constantin , Matteo Pacca , and Ryan Mann
  • “ Destination readiness: Preparing for the tourist flows of tomorrow ,” May 29, 2024, Caroline Tufft , Margaux Constantin , Matteo Pacca , and Ryan Mann
  • “ How the world’s best hotels deliver exceptional customer experience ,” March 18, 2024, Ryan Mann , Ellen Scully, Matthew Straus, and Jillian Tellez Holub
  • “ How airlines can handle busier summers—and comparatively quiet winters ,” January 8, 2024, Jaap Bouwer, Ludwig Hausmann , Nina Lind , Christophe Verstreken, and Stavros Xanthopoulos
  • “ Travel invented loyalty as we know it. Now it’s time for reinvention. ,” November 15, 2023, Lidiya Chapple, Clay Cowan, Ellen Scully, and Jillian Tellez Holub
  • “ What AI means for travel—now and in the future ,” November 2, 2023, Alex Cosmas  and Vik Krishnan
  • “ The promise of travel in the age of AI ,” September 27, 2023, Susann Almasi, Alex Cosmas , Sam Cowan, and Ben Ellencweig
  • “ The future of tourism: Bridging the labor gap enhancing customer experience ,” August 1, 2023, Urs Binggeli, Zi Chen, Steffen Köpke, and Jackey Yu
  • “ Hotels in the 2030s: Perspectives from Accor’s C-suite ,” July 27, 2023, Aurélia Bettati
  • “ Tourism in the metaverse: Can travel go virtual? ,” May 4, 2023, Margaux Constantin , Giuseppe Genovese, Kashiff Munawar, and Rebecca Stone
  • “ Three innovations to solve hotel staffing shortages ,” April 3, 2023, Ryan Mann , Esteban Ramirez, and Matthew Straus
  • “ Accelerating the transition to net-zero travel ,” September 20, 2022, Danielle Bozarth , Olivier Cheret, Vik Krishnan , Mackenzie Murphy, and Jules Seeley
  • “ The six secrets of profitable airlines ,” June 28, 2022, Jaap Bouwer, Alex Dichter , Vik Krishnan , and Steve Saxon
  • “ How to ‘ACE’ hospitality recruitment ,” June 23, 2022, Margaux Constantin , Steffen Köpke, and Joost Krämer
  • “ Opportunities for industry leaders as new travelers take to the skies ,” April 5, 2022, Mishal Ahmad, Frederik Franz, Tomas Nauclér, and Daniel Riefer
  • “ Rebooting customer experience to bring back the magic of travel ,” September 21, 2021, Vik Krishnan , Kevin Neher, Maurice Obeid , Ellen Scully, and Jules Seeley

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Global Entry Is About to Get More Expensive

G oing through customs when returning to the United States after traveling on an international flight can be time-consuming. After a lengthy flight, the airport customs line is the last place you want to be when you're craving a long shower and a change of clothes.

However, a Global Entry membership can save time and get you through customs faster. Those wanting this membership must apply and pay a $100 application fee. Unfortunately, the fee is about to increase later this year. Here's what you need to know about this news.

Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards

Global Entry can reduce your time spent at the airport

Many people who frequently travel abroad invest in Global Entry. This U.S. Customs and Border Protection (CBP) program allows expedited clearance for eligible pre-approved, low-risk travelers arriving in the United States. This service is available at over 75 select airports.

With this membership, you can enter the Global Entry queue instead of the standard line that most travelers get into, which may allow you to clear customs faster. Once you're approved for Global Entry, the membership is valid for five years. A Global Entry membership also includes TSA PreCheck perks.

However, you must first apply, pay an application fee, and undergo an interview. During your interview, a CBP staff member will determine whether you'll be granted a membership.

Travelers should expect an application fee increase this fall

On April 2, 2024, the CBP published a final rule to the Federal Register updating the fee structures for some of its Trusted Traveler Programs. The agency studied the fees necessary to recover costs associated with processing applications for these programs.

The final rule states that the Global Entry fee will increase from $100 to $120, beginning on Oct. 1, 2024. You must pay the newly increased fee if you apply for Global Entry or renew your existing membership on or after this date. If you're an existing member, prepare for the increased cost so you're not caught off guard when it's time to renew.

Don't let your credit card perks go to waste

If you have a travel rewards credit card, it may offer reimbursement for this application fee. Many credit cards with this perk offer up to $100 in statement credit for TSA PreCheck or Global Entry application fees and allow cardholders to redeem the credit once every four years. You must pay the application fee with your credit card to use this benefit.

If you've been considering becoming a Global Entry member and have a card with this benefit, don't let it go to waste.

Applying for Global Entry soon before the fee amount increases is a good idea. Credit card issuers could increase the statement credit they provide in the future to cover the increase, but there's no guarantee that this will happen. Applying and paying the fee with your card now could allow you to maximize this credit card perk and keep more money in the bank.

If you're interested in earning rewards when you swipe your card for travel purchases, consider applying for a travel rewards credit card. Check out our list of the best travel credit cards . If you prefer a cash back credit card, another option is applying for one of the best cash back cards .

Alert: highest cash back card we've seen now has 0% intro APR until 2025

This credit card  is not just good – it's so exceptional that our experts use it personally. It  features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee! 

Click here to read our full review for free and apply in just 2 minutes.

We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy .

Global Entry Is About to Get More Expensive

  • Best overall
  • Best for exotic trips
  • Best for trip interruption
  • Best for medical-only coverage
  • Best for family coverage
  • Best for long trips
  • Why You Should Trust Us

Best International Travel Insurance for June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

If you're planning your next vacation or trip out of the country, be sure to factor in travel insurance. Unexpected medical emergencies when traveling can drain your bank account, especially when you're traveling internationally. The best travel insurance companies for international travel can step in to provide you with peace of mind and financial protection while you're abroad.

Best International Travel Insurance

  • Best overall: Allianz Travel Insurance
  • Best for exotic travel: World Nomads Travel Insurance
  • Best for trip interruption coverage: C&F Travel Insured

Best for medical-only coverage: GeoBlue Travel Insurance

  • Best for families: Travelex Travel Insurance
  • Best for long-term travel: Seven Corners Travel Insurance

How we rate the best international travel insurance »

Compare the Best International Travel Insurance Companies

As a general rule, the most important coverage to have in a foreign country is travel medical insurance , as most U.S. health insurance policies don't cover you while you're abroad. Without travel medical coverage, a medical emergency in a foreign country can cost you. You'll want trip cancellation and interruption coverage if your trip is particularly expensive. And if you're traveling for an extended period of time, you'll want to ensure that your policy is extendable. 

Here are our picks for the best travel insurance companies for international travel.

Best overall: Allianz

Allianz Allianz Travel Insurance

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good option for frequent travelers thanks to its annual multi-trip policies
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Doesn't increase premium for trips longer than 30 days, meaning it could be one of the more affordable options for a long trip
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Some plans include free coverage for children 17 and under
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Concierge included with some plans
  • con icon Two crossed lines that form an 'X'. Coverage for medical emergency is lower than some competitors' policies
  • con icon Two crossed lines that form an 'X'. Plans don't include coverage contact sports and high-altitude activities
  • Single and multi-trip plans available
  • Trip cancellation and interruption coverage starting at up to $10,000 (higher limits with more expensive plans)
  • Preexisting medical condition coverage available with some plans

Allianz Travel Insurance  offers the ultimate customizable coverage for international trips, whether you're a frequent jetsetter or an occasional traveler. You can choose from an a la carte of single or multi-trip plans, as well as add-ons, including rental car damage, cancel for any reason (CFAR) , adventure sport, and business travel coverage. And with affordable pricing compared to competitors, Allianz is a budget-friendly choice for your international travel insurance needs. 

The icing on the cake is Allyz TravelSmart, Allianz's highly-rated mobile app, which has an average rating of 4.4 out of five stars on the Google Play store across over 2,600 reviews and 4.8 out of five stars from over 22,000 reviews on the Apple app store. So, you can rest easy knowing that you can access your policy and file claims anywhere in the world without a hassle.

Read our Allianz Travel Insurance review here.

Best for exotic trips: World Nomads

World Nomads World Nomads Travel Insurance

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Coverage for 200+ activities like skiing, surfing, and rock climbing
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Only two plans to choose from, making it simple to find the right option
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You can purchase coverage even after your trip has started
  • con icon Two crossed lines that form an 'X'. If your trip costs more than $10,000, you may want to choose other insurance because trip protection is capped at up to $10,000 (for the Explorer plan)
  • con icon Two crossed lines that form an 'X'. Doesn't offer coverage for travelers older than 70
  • con icon Two crossed lines that form an 'X'. No Cancel for Any Reason (CFAR) option
  • Coverage for 150+ activities and sports
  • 2 plans: Standard and Explorer
  • Trip protection for up to $10,000
  • Emergency medical insurance of up to $100,000
  • Emergency evacuation coverage for up to $500,000
  • Coverage to protect your items (up to $3,000)

World Nomads Travel Insurance  offers coverage for over 150 specific activities, so you can focus on the adventure without worrying about gaps in your coverage. 

You can select its budget-friendly standard plan, starting at $79. Or if you're an adrenaline junkie seeking more thrills, you can opt for the World Nomads' Explorer plan for $120, which includes extra sports like skydiving, scuba diving, and heli-skiing. And World Nomads offers 24/7 assistance, so you can confidently travel abroad, knowing that help is just a phone call away. 

Read our World Nomads Travel Insurance review here.

Best for trip interruption: C&F Travel Insured

C&F C&F Travel Insured

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers 2 major plans including CFAR coverage on the more expensive option
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cancellation for job loss included as a covered reason for trip cancellation/interruption (does not require CFAR coverage to qualify)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Frequent traveler reward included in both policies
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Up to $1 million in medical evacuation coverage available
  • con icon Two crossed lines that form an 'X'. Medical coverage is only $100,000
  • con icon Two crossed lines that form an 'X'. Reviews on claims processing indicate ongoing issues
  • C&F's Travel Insured policies allow travelers customize travel insurance to fit their specific needs. Frequent travelers may benefit from purchasing an annual travel insurance plan, then adding on CFAR coverage for any portions of travel that may incur greater risk.

C&F Travel Insured offers 100% coverage for trip cancellation, up to 150% for trip interruption, and reimbursement for up to 75% of your non-refundable travel costs with select plans. This means you don't have to worry about losing your hard-earned money on non-refundable travel costs if your trip ends prematurely. 

Travel Insured also stands out for its extensive "reasons for cancellation" coverage. Unlike many insurers, the company covers hurricane warnings from the National Oceanic and Atmospheric Administration (NOAA).

Read our C&F Travel Insured review here.

AJM Global Inc GeoBlue Travel Insurance

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. A subsidary of Blue Cross Blue Shield
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers strong medical plans as long as you have a regular health insurance plan, but it doesn't have to be through Blue Cross
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers long-term and multi-trip travel protection
  • con icon Two crossed lines that form an 'X'. Multiple complaints about claims not being paid or being denied
  • con icon Two crossed lines that form an 'X'. Does not provide some of the more comprehensive coverage like CFAR insurance
  • con icon Two crossed lines that form an 'X'. Buyers who do get claims paid may need to file multiple claim forms

GeoBlue Travel Insurance offers policies that covers emergency medical treatments when you're abroad. While GeoBlue lacks trip cancellation coverage, that allows it to charge lower premiums than the other companies on this list. 

GeoBlue plans can cover medical expenses up to $1 million with several multi-trip annual plans available. It offers coinsurance plans for trips within the U.S. and 100% coverage for international trips. It also has a network of clinics in 180 countries, streamlining the claims process. It's worth noting that coverage for pre-existing conditions comes with additional costs. 

Read our GeoBlue Travel Insurance review here.

Best for family coverage: Travelex Travel Insurance

Travelex Travelex Travel Insurance

Trip cancellation coverage for up to 100% of the trip cost and trip interruption coverage for up to 150% of the trip cost

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Options to cover sports equipment
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Option to increase medical coverage
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can cancel up to 48 hours before travel when CFAR option is purchased
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable coverage for budget-conscious travelers
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Includes generous baggage delay, loss and trip delay coverage
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Optional "adventure sports" bundle available for riskier activities
  • con icon Two crossed lines that form an 'X'. Only two insurance plans to choose from
  • con icon Two crossed lines that form an 'X'. Medical coverage maximum is low at up to $50,000 per person
  • con icon Two crossed lines that form an 'X'. Pricier than some competitors with lower coverage ceilings
  • con icon Two crossed lines that form an 'X'. Some competitors offer higher medical emergency coverage

Travelex travel insurance is one of the largest travel insurance providers in the US providing domestic and international coverage options. It offers a basic, select, and America option. Read on to learn more.

  • Optional CFAR insurance available with the Travel Select plan
  • Trip delay insurance starting at $500 with the Travel Basic plan
  • Emergency medical and dental coverage starting at $15,000

Travelex Travel Insurance offers coverage for your whole crew, perfect for when you're planning a family trip. Its family plan insures all your children 17 and under at no additional cost. The travel insurance provider also offers add-ons like adventure sports and car rental collision coverage to protect your family under any circumstance. Got pets? With Travelex's Travel Select plan, you can also get coverage for your furry friend's emergency medical and transportation expenses. 

Read our Travelex Travel Insurance review here.

Best for long trips: Seven Corners

Seven Corners Seven Corners Travel Insurance

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Diverse coverage options such as CFAR, optional sports equipment coverage, etc.
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states
  • con icon Two crossed lines that form an 'X'. Prices are higher than many competitors
  • con icon Two crossed lines that form an 'X'. Reviews around claims processing are mixed
  • Trip cancellation insurance of up to 100% of the trip cost
  • Trip interruption insurance of up to 150% of the trip cost
  • Cancel for any reason (CFAR) insurance available

Seven Corners Travel Insurance offers specialized coverage that the standard short-term travel insurance policy won't provide, which is helpful if you're embarking on a long-term trip. You can choose from several plans, including the Annual Multi-Trip plan, which provides medical coverage for multiple international trips for up to 364 days. This policy also offers COVID-19 medical and evacuation coverage up to $1 million. 

You also get the added benefit of incidental expense coverage. This policy will cover remote health-related services and information, treatment of injury or illness, and live consultations via telecommunication. 

Read our Seven Corners Travel Insurance review here.

How to Find the Right International Travel Insurance Company 

Different travelers and trips require different types of insurance coverage. So, consider these tips if you're in the market to insure your trip. 

Determine your needs 

Your needs for travel insurance will depend on the type of trip you're taking. You'll need to consider your destination and what you'll be doing there, either business, leisure, or adventure traveling. Policies covering adventure sports and activities will cost more. Longer, more expensive trips will also cost more. 

Research the reputation of the company 

When researching a company, you'll want to closely review the description of services. You'll want to see how claims are handled, any exceptions, and limitations.

You'll also want to look at the company's customer reviews on sites like Trustpilot, BBB, and Squaremouth, as this will provide insight on the quality of customer service and the claims process. You should also take note of whether companies respond to customer reviews.

Compare prices

You can get quotes through a company's website or travel insurance aggregators like InsureMyTrip and VisitorsCoverage. You'll need to be prepared to provide the following information about your trip:

  • Trip destination(s)
  • Travel dates
  • Number of travelers
  • Traveler(s) age/birthday
  • State of residence
  • Total trip cost

For companies that offer travel medical insurance, you'll also want to play around with the deductible options, as they can affect your policy premium. 

Understanding International Travel Insurance Coverage Options

Travel insurance can be confusing, but we're here to simplify it for you. We'll break down the industry's jargon to help you understand what travel insurance covers to help you decide what your policy needs. Bear in mind that exclusions and limitations for your age and destination may apply. 

Finding the Best Price for International Travel Insurance

Your policy cost will depend on several factors, such as the length of your trip, destination, coverage limits, and age. Typically, a comprehensive policy includes travel cancellation coverage costs between 5% and 10% of your total trip cost.

If you're planning an international trip that costs $4,500, you can expect to pay anywhere from $225 to $450 for your policy. Comparing quotes from multiple providers can help you find a budget-friendly travel insurance policy that meets your needs.

Why You Should Trust Us: How We Reviewed International Travel Insurance Companies

We ranked and assigned superlatives to the best travel insurance companies based on our insurance rating methodology . It focuses on several key factors, including: 

  • Policy types: We analyzed company offerings such as coverage levels, exclusions, and policy upgrades, taking note of providers that offer a range of travel-related issues beyond the standard coverages. 
  • Affordability: We recognize that cheap premiums don't necessarily equate to sufficient coverage. So, we seek providers that offer competitive rates with comprehensive policies and quality customer service. We also call out any discounts or special offers available. 
  • Flexibility: Travel insurance isn't one-size-fits-all. We highlight providers that offer a wide array of coverage options, including single-trip, multi-trip, and long-term policies.
  • Claims handling: The claims process should be pain-free for policyholders. We seek providers that offer a streamlined process via online claims filing and a track record of handling claims fairly and efficiently. 
  • Quality customer service: Good customer service is as important as affordability and flexibility. We highlight companies that offer 24/7 assistance and have a strong record of customer service responsiveness. 

We consult user feedback and reviews to determine how each company fares in each category. We also check the provider's financial rating and volume of complaints via third-party rating agencies. 

Read more about how Business Insider rates insurance products here.

International Travel Insurance FAQs

The best insurance policy depends on your individual situation, including your destination and budget. However, popular options include Allianz Travel Insurance, World Nomads, and Travel Guard. 

You should pay attention to any limitations regarding covered cancellations, pre-existing conditions, and adventure activities. For example, if you're worried you may have to cancel a trip for work reasons, ensure that you've worked at your company long enough to qualify for cancellation coverage, as that is a condition with some insurers. You should also see if your destination has any travel advisories, as that can affect your policy. 

Typically, your regular health insurance won't cover you out of the country, so you'll want to make sure your travel insurance has adequate medical emergency coverage. Depending on your travel plans, you may want to purchase add-ons, such as adventure sports coverage, if you're planning on doing anything adventurous like bungee jumping.

Travel insurance is worth the price for international travel because they're generally more expensive, so you have more to lose. Additionally, your regular health insurance won't cover you in other countries, so without travel insurance, you'll end up paying out of pocket for any emergency medical care you receive out of the US.

You should purchase travel insurance as soon as possible after making payment on your trip. This makes you eligible for add-ons like coverage for pre-existing conditions and CFAR. It also mitigates the chance of any losses in the days leading up to your trip. 

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25+ Essential Business Travel Statistics [2023]: How Much Do Companies Spend On Business Travel

go global travel revenue

  • Business Travel Statistics
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Research Summary. Whether you’re flying out of town for that important business meeting or simply attending an annual workshop, business travel is an important part of any big company’s protocol. When it comes to business travel, our extensive research shows that:

Business travel in the U.S. from domestic and international travelers amounts to around $387 billion in annual revenue .

While business trips currently account for roughly 12% of total U.S. air travel , they make up to 75% of airlines’ profits .

At least 35% of U.S. businesses engage in business travel.

From 2019-2020, the number of business trips taken in the U.S. dropped from 464 million to 185 million .

The average business trip costs Americans $949 in travel fees .

business travellers per year

General Business Travel Statistics

Knowing that business travel accounts for up to 75% of air travel revenue, it’s not hard to see why it’s encouraged. In fact, business travel is so lucrative that it even affects the U.S. GDP. Here are the facts:

In 2016 alone, business travel contributed $547 billion to the United States’ total GDP.

That’s around 3% of the total GDP, a number which stayed rather stable until 2020 when the COVID-19 pandemic negatively affected business travel. In reality, these high numbers might never return, as experts predict 36% less business travel post-COVID.

In 2022 business travel accounted for 12% of U.S. air travelers.

In 2022 there were over 460 million business travelers, which is a noticeable increase from 2020’s drop to 185 million. However, both years have had a relatively even share of business travelers (around 12-13%).

Business travel can account for up to 75% of an airline company’s revenue.

This trend can mostly be attributed to the booking of first-class tickets. Instead of saving money on business trips, more and more corporations are looking to provide their travelers with maximum comfort and convenience. While doing so makes the company look better, these decisions are mostly made due to competition.

Business travelers account for as much as 40% of hotel guests.

63% of these travelers are male, and 50% are between 35-54. Further, 56% of these individuals are employed in a professional or managerial position that earns them at least $127,000 per year.

business travellers by percentage

Business Trip Statistics

Now that we know how profitable and common business trips are in the U.S., what does the average business trip look like? Well, according to our extensive research:

The average length of a domestic business trip in the U.S. is three days.

The average length for an international trip is 5-6 days. Overall, these numbers seem to slowly decline over time, with the old average (2016) for international business trips being just over six days.

Roughly 26% of business trips are only one day long.

This is another contributing factor for companies’ high cost of business trips, as same-day flights can wrack up costs. However, this does save the company money elsewhere (lodging, food, etc.).

38% of U.S. business travel is for meetings and events.

ME&I travel ( meetings , events, and incentive travel) amounts to $139.3 billion of all business travel spending, nearly 42% of total business travel spending.

Roughly 1.3 million business trips are taken in the U.S. every day.

A number that took a hit from the 90% reduction in travelers in 2020. While these numbers may not recover to pre-COVID numbers, 2021 has increased.

Business Travel Spending Statistics

business travel expenses

As shown, a good percentage of businesses invest in business travel despite the cost. However, you might be surprised to learn just how much business travel costs companies and employees. According to our extensive research:

The average three-day domestic trip costs between $990-$1,293.

While the average international trip costs an average of $2,600 or more. For this reason, business trips need to be especially valuable for the company or employee taking them.

The average company spends 17-27% of its total travel budget on airfare.

You might be surprised to learn that airfare isn’t the most expensive part of business travel. Overall, the average domestic flight is $470, give or take how far away the destination is.

Over 20% of a typical business travel budget goes to food expenses.

That’s even more than flights and can amount to hundreds of dollars in expenses. One of the best ways to avoid this hefty cost is to utilize free hotel breakfasts. After all, never buying breakfast is a great way to cut food expenses.

The most expensive aspect of a business trip is lodging, making up around 34% of total costs.

Hotels make a lot of money from business travelers and the companies who sponsor their trips. This is especially true given the fact that up to 40% of hotel guests are business travelers.

Companies spend roughly $799 per person per day during a business trip.

Business Traveler Statistics

Because only 35% of companies actively partake in business travel, and it can be rather expensive, the demographics of travelers can be rather skewed. According to our research:

At least 50% of business travelers are between 35-54.

Undoubtedly, this abundance of higher ages relates to an employee’s position within the company. Older workers are more likely to have high-level positions . This can also be shown by the fact that 56% of business travelers hold professional or managerial positions that earn at least $127,000 per year.

The average business traveler takes roughly 6.8 trips per year.

And this number is even higher for millennials , who take an average of 7.4 trips per year. In that way, younger generations take more business trips on average (per person) than their older counterparts.

47% of female travelers are traveling on business.

While female business travelers are slightly less common than male travelers, women (on average) tend to enjoy their trips more than their male counterparts. Overall, 45% of women have positive experiences while traveling on business compared to 39% of men.

As of 2021, only 12% of corporate travel representatives feel as though their employees are unwilling to travel.

And with new CDC travel guidelines in 2021, 61% of employees now feel somewhat more comfortable traveling for business.

It takes an average of 38 minutes to complete and correct one expense report.

While it only takes 20 minutes (on average) to complete the expense report , at least 19% of expense reports have errors. Plus, with an average of 1.5 travel expense reports filed per month, that means employees can spend up to an hour filing them each month.

Business Travel Company Policy Statistics

Due to the potentially expensive nature of business travel, it’s no surprise that companies create business travel policies. Here are some stats related to business travel policies:

72% of corporate travel managers haven’t achieved their desired travel policy compliance level.

For the most part, this lack of compliance is due to shortfalls in the traveler ’s experience, fairness and transparency, and not meeting budget requirements.

Only 50% of business travelers follow their company’s travel policy.

In fact, 60% of business travelers don’t even understand their company’s travel policy, making it especially difficult to follow.

81% of business travel is done via personal vehicle.

By contrast, only 16% of business travel is air travel . That means most business travelers travel to their destination by car.

90.6% of corporate travel managers agree that business travel is vital for company growth.

And this sentiment comes from a genuine place, as on average, businesses earn a $2.90 increase in profit for every dollar spent on corporate travel. That equates to an average $9.50 increase in revenue.

Business Travel Trends and Projections

The 2020 height of the COVID-19 pandemic took a major toll on business travel. While business travel has started to recover in 2021, the number of travelers is still around half of what it was pre-COVID. After extensive research, here are the facts about business travel trends:

From 2019-2020, the number of business travelers in the U.S. dropped from 464 million to only 185 million.

From 2010 to 2019, business travelers remained steady between 440 million and 465 million. However, this number dropped drastically in 2020 and then increased to 229 million in 2021.

From 2010-2019, the number of business travelers grew by 4%.

However, the COVID-19 pandemic saw the number of business travelers decrease by 60%, which aligns with other travel declines caused in 2020.

The business travel industry is expected to experience a CAGR of 13.2% between 2021 to 2028.

Luckily, trends seem to show that business travel will start to recover from the COVID-19 pandemic over the next couple of years. Estimates predict that the value of the industry will increase from $695.9 billion in 2020 to $2.1 billion by 2028.

Business Travel FAQ

How many people travel for business annually?

Over 460 million people travel for business annually in the U.S. This is a massive 150% increase from 2020 when there were only 185 million, and similar to 2019’s numbers.

For instance, from 2019-2020, the number of business travelers dropped by 60%. This is mostly due to COVID-19, which affected the travel industry with restrictions and regulations through 2021.

What types of businesses travel the most?

The types of businesses that travel the most are as follows:

Sales Representative

Retail Buyer

Event Planner

Traveling Nurse

International Aid Worker

Civil Servant

Travel Writer

Travel Agent

Flight Attendant

These jobs are all related to or require business travel in one way or another. However, it’s also worth noting that 56% of business travelers hold professional or managerial positions that earn at least $127,000 per year.

How big is the business travel market?

The business travel market is worth an estimated $933 billion as of 2022. From 2020 to 2021, the market rebounded by 14%, from where it had previously dropped to $695 billion. Overall, the business travel market is expected to experience a CAGR of 13.2% between 2021 to 2028.

What percent of travel is business travel?

Approximately 12% of U.S. travel is business travel as of 2022. That number is slightly down from 13.6% in 2021, but half of what it was pre-COVID. For instance, in 2019, business travelers made up at least 25% of all travelers.

How much do companies spend on business travel?

Companies spend over $111.7 billion each year in the U.S. on business travel. Per company, travel costs typically equate to roughly 10% of that company’s annual revenue.

Business travel is an important investment for industries and companies all over the United States. That’s why, despite it costing them between $990-$1,293 per trip, they still choose to send employees on them. In fact, pre-COVID, at least 25% of U.S. travelers were business travelers.

These travelers tend to fall under certain demographics, with at least 50% of business travelers between the ages of 35-54 and 56% of business travelers holding professional or managerial positions that earn at least $127,000 per year.

However, COVID-19 took a heavy toll on the industry. The number of domestic business travelers dropped from 464 million to 185 million (25% to 13%). This job has affected airliners, hotels, the food industry , and more. Luckily, the business travel industry has a CAGR of 13.2% between 2021 and 2028, which indicates at least somewhat of a rebound.

Global Business Travel. “Business Travel Responsible for $547 Billion in U.S. GDP in 2016, Creates Over 7.4 Million Jobs.” Accessed on December 8th, 2021.

Statista. “Number of domestic business and leisure trips in the United States from 2008 to 2019, with a forecast until 2024.” Accessed on December 8th, 2021.

Investopedia. “How Much Airline Revenue Comes From Business Travelers?” Accessed on December 8th, 2021.

AHLA. “Lodging Industry Trends 2015.” Accessed on December 8th, 2021.

Travel Leaders Corporate. “09 Nov Travel Leaders Corporate Releases Q3 Business Travel Trends Data.” Accessed on December 8th, 2021.

U.S. Travel Association. “U.S. Travel Answer Sheet.” Accessed on December 8th, 2021.

Bureau of Transportation. “U.S. Business Travel.” Accessed on December 8th, 2021.

GBTA. “U.S. Business Travel – By The Numbers.” Accessed on December 8th, 2021.

TravelBank. “How Much Should a Business Trip Cost?” Accessed on December 8th, 2021.

JTB. “Important Business Travel Statistics.” Accessed on December 8th, 2021.

Trondent Development Corp. “Business Travel by the Numbers.” Accessed on December 9th, 2021.

GTI Travel. “What do Female Business Travelers do Differently from their Male Counterparts.” Accessed on December 9th, 2021.

Hotel Management. “GBTA poll finds positive momentum for business travel.” Accessed on December 9th, 2021.

SAP Concur. “Save time and money on expense report processing.” Accessed on December 9th, 2021.

TravelPerk. “5 reasons why traveler satisfaction is the key to a successful travel program.” Accessed on December 9th, 2021.

Cision. “Business Travel Market Size to Reach USD 2,001.1 Billion by 2028 at CAGR 13.2% – Valuates Reports.” Accessed on December 9th, 2021.

Certify. “Understanding the average cost of business travel.” Accessed on December 9th, 2021.

Travel jobs statistics

Zippia ’s research team connects data from disparate sources to break down statistics at the job and industry levels. Below you can dig deeper into the data regarding employees who work in travel or browse through Transportation jobs .

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Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.

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IMAGES

  1. Global Business Travel Spending is Coming Back, but Recent Headwinds

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  2. Global: Travel & tourism revenue by segment 2028

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  3. Go Global Travel Company Profile: Valuation, Investors, Acquisition

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  5. Online Revenue in Travel & Tourism Will Grow Substantially by 2027

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  6. Go Global Travel: The importance of brand in the B2B sector

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COMMENTS

  1. Go Global Travel Company Profile 2024: Valuation, Investors

    The current revenue for Go Global Travel is 000000. Who are Go Global Travel's investors? Apax Partners has invested in Go Global Travel. When was Go Global Travel acquired? Go Global Travel was acquired on 15-May-2023. Who acquired Go Global Travel? Go Global Travel was acquired by Yanolja.

  2. Go Global Travel

    View Go Global Travel (goglobal.travel) location in Tel Aviv, Israel , revenue, industry and description. Find related and similar companies as well as employees by title and much more. ... Go Global Travel's revenue is $32.5 Million What is Go Global Travel's SIC code? Go Global Travel's SIC: 47,472 What is Go Global Travel's NAICS code?

  3. Go Global Travel Company Profile

    Go Global Travel revenue is $32.5 M. How many employees does Go Global Travel have? Go Global Travel has 116 employees. Where is Go Global Travel headquarters located? Go Global Travel headquarters are located in 23 Bar Kochva St, Bene Beraq, Tel Aviv, Israel .

  4. Go Global Travel Company Profile

    Go Global Travel has 5 employees across 12 locations. See insights on Go Global Travel including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft.

  5. Yanolja Cloud Acquires Leading B2B Travel Solution Provider, Go Global

    Founded in Israel in 2000, GGT is a top-tier global travel solutions company that distributes travel products including hotel and resort rooms, airline tickets, and car rentals. GGT distributes ...

  6. Go Global Travel's Competitors, Revenue, Number of Employees ...

    Go Global Travel's Profile, Revenue and Employees. Go Global Travel is an Israel-based hospitality technology company that offers solutions including hotel booking and car rental for tour operators. Go Global Travel's primary competitors include Atlas Travel & Technology Group, Inc., Switchfly, TravelCarma and 19 more.

  7. Go Global Travel Ltd. Analysis & Market Share Overview

    See Go Global Travel Ltd.s performance during February 2024, analyze Go Global Travel Ltd. stock status and financial standing, discover Go Global Travel Ltd.s main competitors, digital footprints and more - Click here

  8. Go Global Travel Stock Price, Funding, Valuation, Revenue & Financial

    Funding, Valuation & Revenue. 2 Fundings. Go Global Travel's latest funding round was a Acquired for on May 15, 2023. Date. Round. Amount. Investors. Valuation. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Revenue. Sources. 5/15/2023.

  9. Yanolja Cloud acquires B2B travel tech firm Go Global Travel

    Yanolja Cloud, a subsidiary of Yanolja and a global provider of artificial intelligence-based Software as a Service solutions for the hospitality and leisure sectors, has acquired Israel-based Go Global Travel.Terms of the acquisition have not been disclosed. Founded in 2000, Go Global Travel is a B2B technology company that provides distribution of travel products including hotel and resort ...

  10. Go Global Travel Financial Overview, Employee Count, and Competitors

    Go Global Travel's Revenue (Yearly) 65M. Employees. 720. See all Go Global Travel's financial information. Employee Metrics. Total Employee Count Employee Retention. Technologies. Route 53. Domain Name Services. Outlook. Email Providers. Amazon AWS. Hosting. AngularJS. Frameworks and Programming Languages. FullStory.

  11. Go Global Travel: Contact Details and Business Profile

    Address. 23 Bar Kochva St, Bnei Brak 7696500, IL. Phone. +421 2/571 049 00. Technologies. JavaScript , HTML , Google Analytics +30 more (view full list) Industry. Travel Arrangements, Travel Agencies & Services, Leisure, Consumer Services, Community and Lifestyle, Travel, Travel and Tourism. Web Rank.

  12. Go Global Travel

    Go Global Travel provides travel solutions for business-to-business (B2B). Use the CB Insights Platform to explore Go Global Travel's full profile. Technology Vendors ... Cloud business leads Yanolja's revenue growth According to the electronic disclosure system operated by the Financial Supervisory Service (FSS), Yanolja's cloud division ...

  13. Go Global Travel

    About Us. Go Global Travel is an innovative B2B. Hotel and Technology provider established. in 2000. Our 20.000 client partners benefit from. 1.000.000 Hotels and Apartments in more than. 70.000 locations around the world. To support all our products, we have 18.

  14. Global tourism industry

    Leading global travel markets by travel and tourism contribution to GDP 2019-2022. ... Revenue of the global travel and tourism market from 2019 to 2028, by segment (in billion U.S. dollars)

  15. Global: Travel & tourism revenue by segment 2028

    Travel and tourism revenue worldwide 2019-2028, by segment. Over the last two observations, the revenue is forecast to significantly increase in all segments. As part of the positive trend, the ...

  16. Press Release

    More information about Go Global Travel is available at: www.goglobal.travel. Contact details. Amadeus Media Relations. Corporate & Marketing Communication. tel : +34 91 582 7809. fax : +34 91 582 0188. E-mail: [email protected]. Go Global Travel Ltd. Mrs Natalie Dekalo.

  17. Go global travel Integration: Hotels XML API Integration Services

    Go global travel web service integration solution for tour operators and online travel agencies. Get connected to Go global travel hotel booking system via XML API.

  18. COVID-19: global revenue of travel and tourism industry 2028

    Global change in travel and tourism revenue due to COVID-19 2026-2028. According to this forecast, the indicator will stay nearly the same over the forecast period. Find further information ...

  19. Business Travel Comeback Pushes Global Spending Past $1.5 Trillion

    The Global Business Travel Association (GBTA) predicts global business travel spending will surpass $1.5 trillion in 2024, up from $1.02 trillion in 2022. Regarding the hotel market, investors are ...

  20. eSIM Go checks in with Lufthansa on-brand global travel service

    It has 96,677 employees and generated revenue of €35.44bn in its financial year 2023. ... The technology is used by global brands in travel, mobile, fintech and other industries to generate ...

  21. What are the latest travel trends?

    We've done a deep dive into the latest travel trends and how industry players can adjust accordingly in The state of travel and hospitality 2024 report. Check out the highlights below, as well as McKinsey's insights on AI in travel, mass tourism, and much more. Learn more about McKinsey's Travel, Logistics, and Infrastructure Practice.

  22. Global Entry Is About to Get More Expensive

    The final rule states that the Global Entry fee will increase from $100 to $120, beginning on Oct. 1, 2024. You must pay the newly increased fee if you apply for Global Entry or renew your ...

  23. 6 Best International Travel Insurance Companies

    Best overall: Allianz Travel Insurance. Best for exotic travel: World Nomads Travel Insurance. Best for trip interruption coverage: C&F Travel Insured. Best for medical-only coverage: GeoBlue ...

  24. 25+ Essential Business Travel Statistics [2023]: How Much Do ...

    90.6% of corporate travel managers agree that business travel is vital for company growth. And this sentiment comes from a genuine place, as on average, businesses earn a $2.90 increase in profit for every dollar spent on corporate travel. That equates to an average $9.50 increase in revenue. Business Travel Trends and Projections

  25. Global Entry Enrollment Centers

    Find Your Nearest Enrollment Center. Enrollment Centers are either located in an airport or other varying locations, such as a government building. To find a Global Entry Enrollment Center closest to you, use the following form or select the state or territory in the list below. Select Location:

  26. Deloitte

    Deciding the career for you is more than simply "landing the job.". It's finding a place where you know you make a difference each day, where you can be your most authentic self. It's choosing your impact. Industry insights and audit, consulting, financial advisory, risk management, and tax services from Deloitte's global network of ...

  27. Latest Information for U.S. Citizens

    Please see the latest Israel Security Alert. U.S. citizens should heed the Travel Advisory for Israel, the West Bank, and Gaza. The U.S. Embassy continues to closely monitor the dynamic security situation in Israel, the West Bank, and Gaza. There are active military operations and active rocket and mortar fire in Gaza and the Gaza periphery.

  28. Electrostal History and Art Museum

    Art MuseumsHistory Museums. Write a review. All photos (22) Suggest edits to improve what we show. Improve this listing. Revenue impacts the experiences featured on this page, learn more. The area. Nikolaeva ul., d. 30A, Elektrostal 144003 Russia. Reach out directly.

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    All photos (1) Suggest edits to improve what we show. Improve this listing. Revenue impacts the experiences featured on this page, learn more. The area. Gorkogo, 15, Elektrostal 144002 Russia. Reach out directly. Visit website. Call.

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    Electrostal History and Art Museum. 19 reviews. #3 of 12 things to do in Elektrostal. Art MuseumsHistory Museums. Write a review. All photos (22) Revenue impacts the experiences featured on this page, learn more. The area. Nikolaeva ul., d. 30A, Elektrostal 144003 Russia.