Internova Travel Group Survey Shows Positive Outlook for Business Travel in 2024

The demand for business travel remains robust according to the 2024 Internova Index: North American Business Traveler Insights, a new survey of travel trends conducted by Internova Travel Group.

Eighty-five percent of business travelers surveyed expect to be on the road the same amount or more often in 2024 versus 2023. About 30 percent combine leisure with business travel, or "bleisure." The average daily rate (ADR) for hotels booked by business travelers in the United States grew about 5 percent from 2022 to 2023. And post-COVID, travel agencies are playing an increasingly important role in booking business trips.

North American Business Traveler Insights is the first corporate travel-focused version of The Internova Index: North American Traveler Insights series, which will be published annually. It is based on an analysis of millions of travel bookings in the United States and Canada, as well as a consumer survey of approximately 3,000 travelers.

The study separates business travelers into three segments: Executives, employees in senior management positions; Road Warriors, high-frequency travelers in areas such as sales, account management, training or other interaction-focused roles; and Occasional Travelers, where travel is not a core part of their role.

"Our newest Internova Index report presents a carefully researched and hopeful outlook for business travel in 2024," said J.D. O'Hara, CEO, Internova Travel Group, one of the world's largest travel services companies. "It's clear that our business travel clients appreciate the vital assistance we gave them during and after the pandemic, and they are relying on us in ever-increasing numbers to provide the same high level of expert service, no matter where their work takes them."

While the overall number of trips per business traveler grew 3 percent from 2022 to 2023, the strongest growth was among Road Warriors, whose domestic trips increased by 30 percent. Overall, 30 percent of all business travelers expect to travel more in 2024 than they did in 2023.

Since 2019, agencies are playing an increasingly important role in booking business travel. This trend was likely driven by the complexity of planning travel during and shortly after the pandemic, and it is a change that has persisted. Road Warriors in particular are 15 percent more likely to use a travel management company (either an online booking tool or a human agent) in 2024 than in 2019.

The 2024 Internova Index: North American Business Traveler Insights was compiled by Internova Analytics and Consulting, a group within Internova Travel Group that combines unique data sources, knowledgeable internal expertise and an experienced project delivery team. The report is designed to highlight key industry trends for our supplier partners, members, advisors and colleagues with a focus on corporate travel. Through bespoke engagements, Internova Analytics and Consulting helps participants in the travel industry adapt to new trends and address their most pressing challenges.

"Last year, our team of analysts, consultants and travel experts harnessed our proprietary data to release the first Internova Index, focusing on general travel trends," said Henry Gilroy, Senior Vice President, Strategic Development, Internova Travel Group. "We're excited to expand more into the corporate space and demonstrate to our partners that we can support their analytical needs across all segments of the market."

For the full report or for more information on Internova Analytics and Consulting, please visit www.internova.com/research.