[Edaily Reporter Oh Hee-na ] A forecast indicates that global business travel spending will reach a record high of $1.71 trillion (approximately 2,300 trillion won) this year. Analysts predict that spending will rise as the boom in investment in new technologies, such as artificial intelligence (AI), drives demand for business travel, compounded by rising travel costs—including airfare and lodging—due to geopolitical instability.

According to the “2026 BTI (Business Travel Index) Annual Report” released by the Global Business Travel Association (GBTA) on the 11th, global business travel spending in 2026 is expected to reach $1.7073 trillion, a 7.2% increase from the previous year. This represents an increase of more than 7% from the previous all-time high of $1.592 trillion in 2025, contrasting with the number of business trips, which rose by only 1.3% year-over-year.
The report analyzed that a significant portion of this year’s growth in business travel spending will stem from rising prices for airfare and lodging rather than an increase in the number of business trips. In particular, it cited airspace diversions caused by heightened geopolitical tensions in the Middle East and rising energy prices as the main factors driving up airfare and lodging costs.
The report highlighted increased corporate investment as a key factor driving the rise in business travel demand despite geopolitical instability and rising costs. It explained that global companies are actively allocating budgets to in-person meetings and on-site business trips to adopt AI technology, diversify supply chains, and acquire new customers.
The recovery in the corporate-driven business travel market is also reflected in traveler surveys. Last year, 74% of global business travelers reported taking the same number of or more business trips than the previous year. By region, the Asia-Pacific region accounted for 80% of the total, confirming its status as the largest market for business travel. The average expenditure per trip was $875.
By country, the United States ($423 billion) and China ($403.7 billion) maintained their positions as the top two spenders by an overwhelming margin. They were followed by Germany ($89.7 billion), Japan ($82.4 billion), and the United Kingdom ($66.7 billion) in the top ranks. South Korea ranked sixth, recording $51.1 billion—an 11.3% increase from the previous year. Among the top 10 countries, South Korea showed the steepest growth rate alongside Brazil (13.8%) and Japan (10.0%). This is attributed to the expansion of global investments in key manufacturing sectors such as semiconductors, batteries, and automobiles, which significantly boosted demand for international business travel.

With corporate investment demand continuing to expand, the global business travel market is expected to maintain its growth momentum. The report projected that global business travel spending will reach $1.806 trillion in 2027, $1.893 trillion in 2028, and $1.974 trillion in 2029, before reaching $2.061 trillion in 2030. While geopolitical uncertainty and rising transportation costs will put pressure on the market in the short term, the report explains that increased demand for in-person business—driven by corporate investment, customer relationship management, and supply chain development—will lead to a robust rise in business travel demand.
The GBTA noted, “Even amid uncertainties such as geopolitical risks and rising oil prices, the intrinsic value of in-person business continues to be highly valued,” adding that “investments in technology, such as AI, are serving as a driving force behind the business travel market.”