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US loses business travellers with demand dampened by political turmoil

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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 ]