Business travel in Canada is expected to reach spending of USD 25.9 billion, recovering to pre-Covid levels, if not surpassing it, says forecast by study by GBTA.

Nearly two-thirds or 65 pc of Canadian firms expect to take more business trips this year compared to last year, while under one in five or 18 pc expect the same volume of business trips.

These are amongst the findings of a survey of Canadian business conducted by Global Business Travel Association (GBTA) which released its annual Business Travel Index Outlook for Canada during the Global Business Travel Association (GBTA) Canada Conference 2024 held in Toronto from April 22-24.

In a press statement, GBTA says that business travel in Canada is poised to reach USD 25.9 billion in 2024. Nearly 82 pc Canadian buyers and suppliers said business travel is worthwhile in achieving their business objectives. This outpaces both global rate of 11.8 pc and United States at 9.2 pc growth forecasts. In 2019 before the pandemic, Canadian business travel had reached USD 25.7 billion.

GBTA adds that business travel spending in Canada is expected to recover to its pre-Covid level this year, which is one year later than the broader North American region but parallel to the global rate of recovery.

Canadian travel buyers expect to spend more on business travel in 2024, with nearly three in five or 59 pc planning for their companies’ spend to be higher compared to last year.

When asked about challenges, Canadian buyers and suppliers cited financial concerns at the top of their list, namely the rising cost of travel, overall economic conditions and corporate budgets not keeping pace with needs.

In the 2023 GBTA BTI’s worldwide survey of business travellers, 57 pc of Canadian business travellers who responded say they travelled the same amount or more than they did pre-pandemic.

About 55 pc said they blended travel, combining leisure travel with their business trips more than they did in 2019. They reported spending an average of USD 884 per business trip in 2023.

“Canada is a truly diverse country, marked by a variety of cultures, mindsets and priorities. There are no ‘one size fits all’ solutions and GBTA is squarely focused on creating a sustainable, successful future for the Canadian business travel industry. A strong business travel industry is essential to the region, from ensuring our future workforce to making Canada one of the top economies for global business travel,” says Janette Acosta Sanchez, who joined GBTA in February as Country Director for Canada.

“One of GBTA’s pillars is uniting the business travel community, and we recognize Canada has a unique travel market, filled with diversity in its people and priorities. With so much going on in our industry right now as we continue to discover what a post-pandemic business travel sector looks like, we are committed to making sure Canada’s voice is heard while we look ahead and navigate the future of business travel together,” said Cristina Scott, GBTA Senior Vice President for the Americas.