GBTA convention 2024 delivers record forecast outlook
The global business travel industry converged in Atlanta, Georgia, for the GBTA Convention 2024 held July 22-24 at the Georgia World Congress Center. Attracting 5,400 registered attendees from 50 countries – including more than 1,100 travel buyers from 600+ companies and 310 travel supplier exhibitors – the not-to-be-missed industry event featured over 200 dynamic presenters, 86 peer-reviewed and curated education sessions, unmatched networking opportunities and the unveiling of the latest forecast ahead for global business travel.
Focus areas for the convention aligned with what’s affecting the sector and its professionals most, including the state of the industry, understanding human behavior, innovating for transformation, solving sustainability challenges and looking to the future of business travel.
“The GBTA Convention offers a unique, annual opportunity for industry professionals to learn, network and experience the very best the global business travel community has to offer − and this year was no exception. This week was also a testament to the ongoing importance, in general, of managed travel programs and their support systems, as we felt the industry’s resilience for ourselves in navigating the global IT system disruption in order to come together in Atlanta,” said Suzanne Neufang, CEO of GBTA.
“At its core, business travel is about making human connections. By understanding what drives our behaviors and decision making, coupled with the increasing role technology plays in aiding us, we can better understand not only where the industry is going, but why it’s trending in that direction. We are very optimistic for what lies ahead for business travel – and for those who work in and with this industry,” said Neufang.
Main Stage Sessions Tap into Human Connections, Technology and Sustainability
This year’s Main Stage keynote speakers featured a dynamic trio of experts in their respective fields. In keeping with the convention’s theme, each one presented an alternate point of view to commonalities and challenged the audience to embrace forward thinking approaches. They were:
- Dan Ariely, behavioral economist, best-selling author, speaker and professor, delved into captivating stories and research-based learnings about human behavior and why people make the everyday choices they do.
- Carla Harris, international public speaker and Senior Client Advisor at Morgan Stanley, offered inspiring insights and examples on how to build trust and refine leadership approaches for maximum impact.
- Dr. Bertrand Piccard, Initiator and Chairman at the Solar Impulse Foundation, shared the adventures of his record-breaking, around-the-world balloon journey in 1999 as well as his first-ever global circumnavigation in a solar-powered electric airplane in 2016. He also outlined why “it’s impossible” are the very words to spur human ingenuity in order to solve such “impossible” problems as aviation decarbonization.
Other Main Stage sessions featured impactful fireside chats and panel discussions with leaders from companies including Delta Air Lines, Enterprise Mobility, Goodr, IHG Hotels & Resorts, Marriott, Shell, United for Business and Visa Inc.
Business Travel Industry Outlook Points to Post-Pandemic Stabilization and Record Spending Levels
During Monday’s Main Stage session, GBTA launched the 2024 GBTA Business Travel Index Outlook – Annual Global Report and Forecast (“GBTA BTI™”) report made possible by Visa. Now in its 16th year and comprised of data and analysis including from 4,100 business travelers across five global regions, the GBTA BTI™ found that global spending for business travel is expected to reach a record $1.48 trillion USD by the end of 2024. Looking further out, and boosted by economic stability, pent-up demand and recovery momentum, business travel spending is projected to surpass $2 trillion by 2028.
Among the deeper dive GBTA BTI report findings Neufang revealed during the opening session were:
- 64% of business travelers surveyed report increased spending compared to 2023.
- Business travelers estimate their spending averaged $834 per person based on their last business trip.
- 81% report that business travel is worthwhile in achieving their objectives.
- 58% of business travelers blend business and leisure travel more than ever before.
The Executive Summary from the 2024 GBTA BTI™ report is available to download here, and GBTA members can exclusively access the full report on the GBTA Hub.
Recognizing a Dedicated Volunteer Network
GBTA also honored a group of outstanding volunteers who lead the way in furthering the mission of both the association and the industry as a whole. They are:
- GBTA Direct Member of the Year Award: Leslie Andrews, GTP, GLP, Director of Global Travel Category, JLL
- GBTA Allied Member of the Year Award: Anja Turner–Schulz, Vice President, Global Marketing & Communications, BCD
- 2024 GBTA President’s Award: Mark Ziegler, CCTE, GLP, GTP, Senior Travel Manager, NetApp, Inc.
In addition, GBTA leadership and regional directors, along with association volunteers and GBTA Global Leadership Professional (GLP) program recipients around the globe were celebrated at the Global Leaders Reception on July 21 at the Georgia Aquarium. Kate King, Director of Global Travel Partnerships, International SOS, was honored with the GBTA Committee Member of the Year Award, and 20 other members from across North America, LATAM, EMEA and APAC received Business Travel Service Awards.
Making Headlines, Sharing Breaking News and Leader Insights
During GBTA Media Day on July 22, 15 industry companies announced their breaking news and industry firsts. A full replay of Media Day is available here.
Throughout the Convention, the GBTA Broadcast Studio also hosted 45 executive interviews with some of the leading and most innovative companies in the business travel industry.
