Global Business Travel Industry Sentiment Continues to Reflect Ongoing Uncertainty and Change Amid U.S. Government Actions

Alexandria, VA – As U.S. government actions continue to reshape the global landscape, the business travel industry continues to navigate growing uncertainty and shifting strategies for the remainder of 2025.

Optimism across the business travel sector continues to decline, with more companies who send employees out for work trips expecting reduced travel volume and spending—especially for international trips. Additionally, nearly half of global travel suppliers now anticipate revenue losses (up from 37% three months ago), while more organizations are canceling or relocating meetings from the U.S. and/or shifting to virtual formats. U.S. policy developments—such as trade tariffs, entry restrictions and cross-border advisories—are driving companies to reassess travel plans, tighten budgets and explore markets outside the U.S.

These latest insights are from a new poll released today from the Global Business Travel Association (GBTA) tracking the sentiment and impact of U.S. government actions on business travel. These latest findings reveal some ongoing as well as new and notable shifts since GBTA’s initial April 2025 poll.

This latest poll shows the business travel industry and corporate travel programs and professionals actively adapting to shifting geopolitics and evolving U.S. policies. While overall demand currently remains resilient, the results underscore how economic uncertainty and U.S. government actions continue to send ripple effects across the global travel landscape. Suzanne Neufang, CEO, GBTA

GBTA’s July poll surveyed 950 corporate travel managers, suppliers, travel management companies (TMCs), and other intermediaries across four regions and 45 countries. Here are some of the top takeaways as a result of U.S. government actions:

Supplier Revenue Concerns Deepen

• Showing a divergence in spending and revenue outlooks, almost half (48%) of suppliers expect a drop in business travel revenue, with an average decline of 17% (versus 18% in April). This is up sharply from 37% in April, with lodging suppliers the most concerned as over half (58%) are anticipating revenue decreases.

Business Travel Volume Outlook Softens Slightly, International Travel More Vulnerable

• One-third of buyers (34%, slightly up versus 29% in April) continue to expect the number of business trip taken at their company will decline in 2025, as a result of U.S. government actions. Among those who expect a decline this year, there is little change in the average volume decrease anticipated (19%, versus 21% in April).
• International business travel is more likely to be impacted than domestic travel. Half of respondents (49%) expect declines in their international business travel versus 23% for their domestic/intra-regional business travel – citing anticipated decreases, on average, of 19% and 21% respectively.

Impact on Spending Remains Concerning

• Business travel spending outlook stayed relatively consistent compared with three months ago – with one-third of buyers (31%, versus 27% in April) expecting declines in their company’s business travel expenditures (17% on average, down from 20% in April).

Divergence in Travel Buyer, Supplier and Regional Optimism

• Optimism for the remainder of 2025 remains muted, both globally and regionally. Industry optimism declined slightly to 28%, down from 31% in April, and significantly lower than November 2024 at 67%. Declines in optimism are particularly significant in Asia Pacific (27%, down from 40% in April).
• Buy-side corporate travel manager optimism stayed relatively consistent (29%, vs 28% in April) while supplier and TMC optimism dropped several points to 27% (versus 36% in April).

Increasing Concerns Around Safety, Budgets and Travel Willingness

• The top two long-term concerns cited by respondents paced the same including higher travel costs (55% versus 54% in April) and increased administrative burdens (47%, versus 46% in April).
• However, concerns increased in the areas of safety and duty of care (46%) and border detentions (31%), both up 9 points since April. Budget cuts (44%) and decreased willingness of non-U.S. employees to travel to the U.S. (41%), were both up 4 points from April to July.

Canceled, Relocated and Virtual Meetings ─ All on the Rise

• As a result of U.S government actions, there have been across the board increases from April to July in global travel buyers who say they have:
  • canceled U.S.-based meetings (18%, up from 13%) or events (17%, up from 10%)
  • relocated meetings (13%, up from 8%) or events (12%, up from 6%) outside the U.S
  • canceled sending employees to U.S.-based events (20%, up from 10%)
  • shifted meetings or events online (24%, up from 19%)

Are Companies Seeking New Trade Partners Outside the U.S.?

• One-third (35%) of non-U.S. based industry professionals say their organization is traveling or plans to travel for business to meet with potential new trade partners or vendors outside of the U.S.
• Europe and APAC are the top regions for companies seeking new trade partners outside the U.S., by 70% and 53% of respondents respectively.

When the Impact Gets Personal

• One in five travel buyers globally (18%) say employees have declined U.S.-based business trips due to concerns related to U.S. government actions.
• Over a third of global respondents (35%) now say they personally know someone whose travel has been affected by U.S. policy changes—up from 23% in April.​​​​​​​

Methodology

The July 2025 GBTA poll was conducted from June 16–27 and includes responses from 951 global travel buyers, suppliers, and other industry professionals across North America, Europe, Latin America, Asia-Pacific, and the Middle East/Africa.

Access these links to view the complete GBTA July 2025 poll results and key highlights.

To learn more about GBTA Research, visit the GBTA webpage or email research@gbta.org.