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US loses business travellers with demand dampened by political turmoil

Many fear that policies from the Trump administration are hurting the US' soft power and dampening demand to visit the country.View on euronews
The U.S. is experiencing a decline in business travel demand as companies increasingly opt for virtual meetings over in-person gatherings, a trend that has persisted since the onset of the COVID-19 pandemic. According to a report by the Global Business Travel Association (GBTA), U.S. business travel spending is projected to reach only 64% of its 2019 levels by the end of 2022, a significant drop from earlier forecasts. This shift is attributed to the rise of remote work and the effectiveness of virtual communication tools, leading to reduced travel budgets and a focus on cost-saving measures. The report also highlights a slow recovery in international business travel, with spending expected to be just 40% of pre-pandemic levels, further impacted by ongoing travel restrictions and health concerns.

Read the Full Euronews Article at:
[ https://www.yahoo.com/news/us-loses-business-travellers-demand-081122335.html ]