According to the “2025 Global Business Travel Forecast” report released by CWT and the Global Business Travel Association, while business travel costs are expected to continue rising, the growth rate will significantly slow down in 2024 and 2025. “Despite the significant fluctuations in business travel costs over the past few years, recent data indicates that prices will enter a relatively stable period in the near future,” said Patrick Andersen, President and CEO of CWT. “The pricing environment is expected to be relatively stable over the next 12 to 18 months, which will help businesses with better budget planning and cost management. However, this stability remains fragile, and we advise clients to stay vigilant regarding geopolitical issues, inflation pressures, and ESG (environmental, social, and governance) matters.”