{"id":356300,"date":"2025-07-11T00:36:12","date_gmt":"2025-07-10T19:06:12","guid":{"rendered":"https:\/\/www.technologyforyou.org\/?p=356300"},"modified":"2025-07-11T00:36:28","modified_gmt":"2025-07-10T19:06:28","slug":"euromonitor-report-spotlights-key-trends-reshaping-the-future-of-global-business-travel","status":"publish","type":"post","link":"https:\/\/www.technologyforyou.org\/euromonitor-report-spotlights-key-trends-reshaping-the-future-of-global-business-travel\/","title":{"rendered":"Euromonitor Report Spotlights Key Trends Reshaping the Future of Global Business Travel"},"content":{"rendered":"

Research Commissioned by Navan Highlights That Only 35% of Global Business Travel Is Managed<\/i><\/strong><\/p>\n

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SAN FRANCISCO–(BUSINESS WIRE)–According to a new report from\u00a0Euromonitor International, a data analytics company, global business travel is poised to rise over the next four years driven by increased corporate travel spending, strong demand from small- and medium-sized businesses (SMBs), and the continued adoption of managed travel solutions. The report, commissioned by\u00a0Navan, the leading all-in-one business travel and expense management solution, also provides an in-depth look at key trends and survey results about the global business travel market.<\/p>\n

The research from Euromonitor, which is based on expert interviews, analysis of Euromonitor\u2019s proprietary Passport database, and survey responses from nine countries (United States, Canada, United Kingdom, France, Germany, India, Singapore, Australia, and the UAE), provides a clear view into the current state of managed versus unmanaged travel. It highlights growing corporate travel spend across these key global regions, strong projected growth among SMBs, and the rising popularity of “bleisure” travel. For travel management companies (TMCs) such as Navan, these findings represent opportunities to help businesses simplify travel processes, manage expenses, and better capture unmanaged travel spending.<\/p>\n

\u201cThe size and scope of the global business travel market are large and growing. With global business travel spend projected to reach nearly US$2.9 trillion by 2029 and around 65% of that spend currently unmanaged, the research highlights a growing global opportunity,” said Amy Butte, CFO at Navan.<\/strong> “Businesses everywhere are prioritizing face-to-face interactions, meaning travel budgets are climbing and CFOs are looking to simplify cost management. We believe we are well positioned to help finance teams control expenses, uncover savings, and turn travel spend into a strategic advantage.\u201d<\/p>\n

\u201cOur partnership with Navan brings together deep market research and real-time travel insights. This collaboration highlights key trends, such as the post-pandemic rebound of business travel across the globe and the rapid rise of bleisure travel, coupled with a sustained increase in travel costs to businesses. Together, we help empower businesses to navigate change and make smarter, data-driven travel decisions,\u201d added Sarah Sanders, Senior Consultant at Euromonitor International.<\/p>\n

Key Findings from the report include:<\/strong><\/p>\n

Global Business Travel Spending on the Rise<\/b><\/p>\n

Euromonitor forecasts strong global business travel recovery and growth: business travel spending levels were estimated to have surpassed pre-pandemic (2019) numbers in 2024 and continue climbing steadily, reaching nearly US$2.9 trillion globally by 2029. The resurgence to date reflects renewed confidence in business travel as companies increasingly recognize the essential value of face-to-face interactions, relationship-building, and collaboration as core drivers for overall business success, according to Euromonitor.<\/p>\n

Managed vs. Unmanaged<\/b><\/p>\n

Currently, only 35% of global business travel spending is booked by businesses with a TMC, Euromonitor research found. Additionally, 85% of surveyed businesses stated they expect their company\u2019s travel costs to increase over the next 5 years.<\/p>\n

Combining Work and Leisure Travel<\/b><\/p>\n

Travelers are increasingly blending work trips with leisure travel, which is referred to as “bleisure” travel. Euromonitor\u2019s research projects this segment will see rapid growth globally and particularly in the US, where bleisure travel spending is forecasted to grow 87% between 2024 and 2029, nearly doubling current levels. This evolving trend underscores the opportunity ahead when travelers are planning their personal trips around work.<\/p>\n

Opportunities for Further Adoption<\/b><\/p>\n

Even among businesses that have TMCs in place, a significant portion of travel spending still occurs outside these platforms. According to the report, domestic and global businesses continue to book approximately 10% of their travel outside of these managed systems, representing an opportunity to capture additional savings and better manage costs.<\/p>\n

Small Businesses Driving New Demand for Managed Travel<\/b><\/p>\n

Small and medium-sized businesses (businesses with 1-200 employees, or SMBs) represent an attractive growth opportunity for managed travel solutions. This segment is projected to achieve a CAGR of 7.1% between 2024 and 2029, the fastest of any segment of the business travel market, and represented 26.1% of the business travel market in 2024. SMBs also report one of the highest average frequencies of travel per employee, further highlighting their importance as a key driver of future growth.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Research Commissioned by Navan Highlights That Only 35% of Global Business Travel Is Managed SAN FRANCISCO–(BUSINESS WIRE)–According to a new report from\u00a0Euromonitor International, a data analytics company, global business travel is poised to rise over the next four years driven by increased corporate travel spending, strong demand from small- and medium-sized businesses (SMBs), and the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14083],"tags":[],"class_list":{"0":"post-356300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-technology-industry-news"},"_links":{"self":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/356300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/comments?post=356300"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/356300\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media?parent=356300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/categories?post=356300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/tags?post=356300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}