International business travel is making its long-awaited comeback now that restrictions are easing and travelers are regaining confidence in cross-border trips. According to Expedia, search volume for international trips with a 180+ day booking window started rising in the final months of 2022 (10% quarter-over-quarter). What’s more, almost half of travelers said they’re likely to travel intentionally over the next twelve months, increasing from 35% the previous year. 

The recovery of the corporate travel scene doesn’t necessarily mean a return to ‘normal’. Destination markets are recovering at varying speeds based on a number of contributing factors. So, with this in mind, what does the current business travel landscape look like on an international scale? 

Europe

Despite the impact of the war in Ukraine, EMEA international searches increased by 40% quarter-over-quarter in the latter part of 2022. London remains a top corporate travel hub as it’s one of the best-connected cities for transport in the world, continues to be a leading financial center and is home to thousands of buildings suitable for business meetings and conferences.

As in-person events return tenfold, we’re seeing the emergence of other European countries such as Paris and Amsterdam. The uptick in demand for Paris could be a reflection of lower air fares, especially considering current increases across the board (+8.4% predicted for 2023). 

Middle East

Following the UAE Expo in 2020 which generated 24 million visitors over a six month period, Dubai continues to witness business travelers flocking to the country for meetings and events. Occupancy rates have increased so much that hotel prices are now on the rise, showing the sheer extent of interest in the region. 

According to the Global Business Travel Association (GBTA), the Middle East and Africa take top spot for the fastest recovering business travel regions. Findings show that last year the sector reached 86% of 2019 levels, leading some to believe it will be fully recovered by 2024.   

Latin America 

Airline success in 2022 suggests a massive uptick in demand for business travel in LATAM. In March alone, GOL Airlines saw traffic levels surpass 2019 by 60%, which they believe corporate travel played a large role in. This boost in business activity has even enabled other airlines, such as Azul, to raise their air fares. 

The Global Business Travel Forecast for 2023 predicts that top destinations in this continent will be São Paulo, Cancun, and Ribeirão Preto. 

Asia 

As the part of the world which experienced the strictest and longest period of travel restrictions, it’s thought that pent-up demand will contribute to boosted travel in the region during 2023. Despite China remaining largely closed, three global US airlines have scheduled 98.9% (3.2 million seats) of spring 2019 passenger levels for flights to Asia in the months ahead. 

Top predicted business travel destinations in APAC this year are Singapore and Tokyo. 

North America

While domestic travel has been flourishing for some time, international arrivals in the US continue to make a slow recovery. The country has been largely affected by slow traffic from Asia and Europe, due to China’s lockdown and the Ukraine war, witnessing an overall 24% decline in foreign national inbound arrivals in 2022. However, 2023 brings new hope for North America, with forecasts suggesting a 98% recovery of 2019 levels for inbound business travel by air. 

It’s very much likely that New York will remain one of the top cities in the world for business travel, with rising interest also to be seen in Houston and Boston. 

Why international business travel is important 

Business travel can be hugely beneficial for companies looking to improve their knowledge, client base and employee morale. Deloitte’s research highlights the two primary reasons travelers take corporate trips are to attend conferences (25%) and build client relationships (22%). So for those looking to scale their businesses in 2023, the world being open to cross-border travel is a big win. 

Wherever you’re planning to send employees for in-person events, client and supplier meetings, relocations, or team get togethers, ensure to book them reliable corporate housing. Choose an online booking tool with pre-vetted accommodation suppliers all over the globe, so you can rest assured your employees will be safe no matter where they are. 

3Sixty

3Sixty is the business travel industry’s most secure and intuitive accommodation platform with over one million pre-vetted, quality accommodation suppliers across 60 countries.