Contents OverviewMethodologyExecutive summaryKey findingsChapter 1: The optimism paradoxChapter 2: The new business traveler030405060708 Overview A sector rebuilding and redefining itself. Business travel has never been static,but few periods have demanded asmuch reinvention as the one theindustry is navigating today. Against this backdrop, Expedia Groupsurveyed 214 senior decision-makersat travel management companiesacross 10 global markets to understand The research reveals a sector rich inconfidence but facing a clear executiongap between what business travelersnow expect and what travelorganizations can actually deliver. What’s emerging is not a simplereturn to pre-pandemic norms, but areshaped landscape — one in whichbusiness travelers behave more like Methodology Expedia Group partnered with Censuswide to conduct an online surveyof 214 senior decision-makers at travel management companies. Executive summary Optimistic about the future. Less certain about delivery. There is near-universal confidence inthe future of business travel, withalmost all survey respondents saying and competitiveness. While investmentlevels are high, the greatestopportunity now lies in strengthening Yet when leaders look inward —at their own systems, capabilities,and readiness — a more complex low. Across most critical traveler andorganizational needs, fewer than halfof the respondents say they feel very Business traveler expectations haverisen sharply across almost everydimension, from personalization and Technology is widely recognized asthe most powerful opportunity toclose these gaps. Data-driven This optimism reflects a shared beliefthat business travel is essential forcollaboration, growth, and maintaining Key findings There is a clear confidence gap Investment is widespread — Optimism is high. Readiness is not. Growth opportunities are clear — Almost all (95%) senior decision-makerssurveyed are optimistic¹ about thefuture of business travel; 51% are veryoptimistic. Yet across most traveler TMCs are lacking confidence when itcomes to personalization, easy,streamlined booking, 24/7 travelersupport and duty of care, and Top growth opportunities over thenext three years include end-to-endbooking-to-expense consolidation,AI and automation, alternative Most organizations are activelyinvesting across all major priorityareas, from AI and automation tocybersecurity, sustainability, and dutyof care. Yet only 38% strongly agreebudgets for emerging technologies Business traveler expectationshave reset, not just risen. Expectations have increased acrossevery major dimension of the businesstraveler journey. Top areas ofincreased expectation include booking Technology is seen as the answer Competitive pressure is intensifying Almost a third (32%) cite losing clientsor market share as a key concern overthe next three years. The need todiversify is clear, but execution remainsdifficult. Around a quarter (26%) cite The biggest confidence enablers citedinclude data-driven personalization,new or emerging technologyintegration, and enhanced self-serviceand digital tools. AI adoption is The industry is confident, invested, andrich with opportunity — but successwill be determined by execution.The organizations that lead the next Chapter 1: The optimism paradox Confidence in the market masksuncertainty beneath the surface technology promises efficiency, insight,and scalability that were difficult toachieve in the past. Yet this confidence At first glance, the industry’s outlook Almost all (95%) of business travelleaders surveyed say they areoptimistic about the business travel As the findings show, many travelmanagement companies are unsurewhether their current systems,processes and operating models are 95% are optimisticabout the businesstravel industry’s This optimism is not unfounded.Organizations have learned to travelwith greater intention. Travel budgets To what extent, if at all, do you believe business traveler expectationshave increased or decreased in the past year in the following areas? Chapter 2: % of respondents who say business traveler expectationshave increased¹ in each particular area: The new business traveler 85% 81% Ability to book business andleisure trips using the same tool Expectations haven’t just risen — they’ve reset Duty of care and safety(i.e. proactive traveler riskmanagement, 24/7 traveler support) One of the clearest signals from the research is how quickly andcomprehensively business traveler expectations have changed. 79%Sustainable travel 84% Access to negotiated ratesand perks (e.g. room upgradesor hotel lounge access) What business travelers now want looks increasingly similar towhat they experience in consumer travel — only with higher stakes. 79% 84% They expect: High-quality, concierge-like service(attentive support that handles evensmall details, recognition when atraveler stays at a property regularly) Easy, streamlined booking process(i.e.