Share of business travel spending 2019-2021, by purpose
The coronavirus pandemic hit the global business tourism industry hard as the ability to travel was limited in order to reduce the spread of the virus. As a result, allocations for business-related travels changed depending on the purpose of the trip. According to a December 2020 survey, respondents projected that in 2021 their companies would allocate 30 percent of the total business travel spending on sales or account management meetings with customers, an increase of six percent from 2019. In comparison, spending on conferences, trade shows, and industry events will decrease by five percent in 2021, compared to 18 percent in 2019.