New Study Shows Strong Demand for Business Travel in 2024

Lori Parati

Introva travel setone of the world’s largest travel services companies, has just revealed the results of its latest survey, “Introva Index 2024: North American Business Traveler Insights Report,” which indicates that the industry is seeing strong demand for… business trip. The research combined insights from millions of travel bookings and a comprehensive survey of business travelers in the U.S. and Canada.

According to the report, 85% of business travelers expect to travel as much or more frequently in 2024, compared to 2023. It is worth noting that about 30% of survey participants participate in “leisure” travel, combining business trips with leisure time and activities.

Meanwhile, the average daily rate (ADR) for hotel bookings by business travelers in the United States increased by nearly five percent from 2022 to 2023. In addition, travel agencies are proving increasingly important in making business travel reservations. Since the end of the Covid-19 pandemic. .

The North American Traveler Insights report is a specialized edition of the Internova Index: North American Traveler Insights series, with a special focus on corporate travel trends. The inaugural edition of this annual report is based on an extensive analysis of travel booking data in North America, as well as a consumer survey of approximately 3,000 travellers.

The study divided business travelers into three categories: executives, i.e. senior management personnel; Road Warriors, frequent travelers often in sales or customer-facing roles; and occasional travellers, whose roles involve minimal travel.

Corporate or business travelers walking through the airport.

Corporate or business travelers walking through the airport. (Image source: Adobe Stock/Rawpixel.com)

“Our latest Internova Index report provides a carefully considered and hopeful forecast for business travel in 2024,” said J.D. O’Hara, CEO of Internova Travel Group. “It is clear that our business travel clients appreciate the vital assistance we have provided them during and after the pandemic, and are relying on us in ever-increasing numbers to provide the same high level of expert service, no matter where their work takes them.”

While the total number of trips per business traveler increased by three percent between 2022 and 2023, the sector that saw the biggest growth is Road Warriors, with a 30 percent increase in domestic trips. Furthermore, 30% of all business travelers expect to travel more in 2024 than the previous year. Overall, 30% of all business travelers said they expect to travel more in 2024 than last year.

Since 2019, there has been a notable rise in the use of travel advisors to book business trips. This trend, which continues to grow, is likely influenced by the difficulty and confusion that has come with planning travel during and immediately after the pandemic. Road Warriors, in particular, are 15 percent more likely to use a travel management company — whether an online tool or a human advisor — this year than in 2019.

The 2024 Internova Index: North America Traveler Insights report was developed by Internova Analytics and Consulting, leveraging proprietary data sources and expertise, as well as a dedicated project delivery team to provide valuable industry insights. Internova Analytics and Consulting offers customized collaborations to help travel industry participants adapt to emerging trends and address the most pressing obstacles.

“Last year, our team of analysts, consultants and travel experts harnessed our own data to produce the first Internova Index, focusing on overall travel trends,” said Henry Gilroy, senior vice president of strategic development at Internova Travel Group. “We are excited to expand further into the enterprise space and prove to our partners that we can support their analytical needs across all market segments.”

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