Business travel to bounce back in 2023 after Covid hiatus, analysts predict
Executives are set to ditch Zoom calls this year and once again start catching flights to conduct business in person around the world, industry experts have suggested.
Long-haul business travel is predicted to bounce back this year, according to analysts from aviation data and analytics firm IBA.
IBA’s managing director Geoff van Klaveren said he “did not believe that the trend towards Zoom would last” and that people would begin to get back on planes to meet overseas clients.
“The outlook in our view looks strong,” he said.
According to IBA’s global travel forecasts, released late last week, capacity in 2023 will recover in most markets, especially between Europe and the Middle East as well as Europe and North America.
The transatlantic market will increase 17 per cent year-on-year, the group predicted, while travels to and from the Middle East, and the Gulf in particular, are set to go up 25 per cent.
Nevertheless, all travel to most regions – apart from between North and South America – is still set to remain below 2019 levels.