The WTM Global Travel Report cited the blend of business and leisure travel as driving tourism growth.
Business and leisure are a leading niche
Business travel has defied post-pandemic expectations, and when extended with leisure now represents the top opportunity for tourism growth, according to the findings of the Tourism Economics’ Travel Industry Monitor 2024 survey for the WTM Global Travel Report. Citing a blend of leisure and business travel as a tourism growth opportunity, the report identified it as the leading niche.
In-person meets are “still highly valued”
Business travel’s performance has been “something of a surprise relative to prior expectations,” the report notes, with the post-pandemic persistence of online meetings and events expected to be the cause for its decline. On the other hand, in-person meets are “still highly valued” and business overnights and spending have surpassed previous peaks. The report goes on to note that business travel is being built largely around business events whose annual growth of around 19% in 2024 outstrips a growth of around 11% for leisure visits according to Tourism Economics.
Business travellers are staying longer and spending more
While business travel’s growth is expected to slow somewhat to around 17% in 2025, against the 2024 to 2030 period, such visits are predicted to grow by around 50% against a growth in leisure visits of a little under 30% for the same period. It further emerged that business travellers are staying longer and spending more per trip and while the volume of international business visits currently remains 6% below pre-pandemic levels, the number of overnight stays are 3% higher than in 2019.
Remote working has had a positive effect
Such extended visits are partly thanks to the trend for ‘bleisure’ - the combining of business trips with extra days of leisure tourism, notes the report which adds that remote working has had a positive effect, enabling travellers to be more flexible about working overseas around their leisure time. However pure leisure travel, which is also seeing extending lengths of stay, remains the most important travel segment in terms of volume and spending, comprising 69% of arrivals and 80% of global travel spending.
The WTM provides valuable intelligence to travel pros
Juliette Losardo, exhibition director for World Travel Market London added: “WTM’s aim is to help attendees navigate change, ensuring travel professionals are equipped for the year ahead. Commissioning the WTM Global Travel Report supports our commitment to providing attendees with the latest trends shaping the travel landscape. The WTM Global Travel Report is produced in conjunction with Tourism Economics, part of Oxford Economics and was unveiled on Tuesday 5 November at WTM London which runs 5-7 November at the Excel exhibition and convention centre.
