US Business Travel Hit $538.5B as Meetings Did the Heavy Lifting

US business travel spending reached $538.5 billion in 2024, according to a GBTA study.

That was a 7.5 percent increase from 2023 and marked a new record for business travel activity in the country. The result shows that corporate travel has moved above pre-pandemic levels, at least in spending terms.

Trip volume also improved. GBTA counted nearly 488 million business trips in the US in 2024, up 4.6 percent year over year. The study focuses on trips of at least 50 miles one way or trips that include an overnight stay, so it mainly captures travel that creates clear demand for airlines, hotels, restaurants, transport providers, and meeting venues.

Meetings became a major spending engine

Meetings and events played a large role in the recovery. GBTA said this category generated $217.8 billion in 2024, or more than 40 percent of all US business travel spending. This includes venue rental, food and beverage, audiovisual services, event production, and other costs linked to organizing business gatherings.

The wider economic impact was even larger

GBTA estimated that business travel generated $623.8 billion in total US GDP impact in 2024. That was more than 9 percent higher than in 2023 and represented 2.1 percent of total US GDP. This figure includes direct travel spending, supplier activity, and the wider effect of wages being spent back into the economy.

Business travel also supported 6.7 million US jobs in 2024, compared with 6.4 million in 2023. Wages and salaries connected to business travel increased 10 percent, while employment grew 3.9 percent. The sector is creating more value, but companies are still working in a tighter and more expensive labor market.

The growth of US business travel also explains why more travel companies are building tools for meetings and event-related trips. KAYAK for Business added an “Events” feature to help companies manage travel logistics for conferences, recruiting visits, and corporate gatherings. Meetings are no longer just an add-on to business travel, but one of the main reasons companies are spending more on travel again.

Photo by Waldemar Brandt on Unsplash