GBTA finds that optimism continues to grow within the business travel industry

The business travel industry is continuing to show strong signs that it will reach a spending forecast for US$1.5 billion in 2024.

A recent survey by the Global Business Travel Association (GBTA), reveals that the industry is dominated by experienced, committed professionals who are setting the pace.

The GBTA’s latest Business Travel Outlook Poll reveals the current state of the profession, including gauging the latest sentiment on the implementation of the New Distribution Capability (NDC).

Survey results show a significant majority of global business travel professionals like or love working in the industry, reflecting a sense of optimism and career satisfaction in the sector.

Many respondents anticipate they will stay in their current role in 2024, and professionals continue to join from outside the industry. A quarter of industry respondents expect promotions within the next year.

Travel with a healthy outlook

Travel buyers remain at the helm of key decision-making for their organization, especially in travel management company (TMC) relationships, hotel and air sourcing. And when it comes to navigating NDC — a technology standard that will transform how airlines sell flights through various distribution channels — many business travel professionals continue to voice challenges in information, education, clarity and rollout details.

“GBTA’s survey paints a picture of an engaged workforce in the business travel industry. Professionals are focused on core duties, and there’s a healthy sense of optimism about career expectations and opportunity in the year ahead,” said Suzanne Neufang, CEO, GBTA. “We are also benefiting from those new to the industry – with almost 20 per cent of supplier professionals and 10 per cent of buyer professionals coming to business travel from outside industries.”

“The findings also underscore the importance of continuous learning and collaboration, particularly when managing change like the potential impact of NDC on travel programs.”

Travel buyer responses reflect that the needle hasn’t moved much over the past six months in key NDC areas such education, clarity and speed of implementation, with results only deviating a few percentage points versus results from GBTA’s October 2023 poll.

In the poll conducted in April, most buyers (71%) acknowledged a continuing need for education and information about NDC. A significant number (45%) are still unsure whether their travel management company is fully prepared. (Similar to 46%)

For more, go to www.gbta.org.