Three-quarters (75%) of travel managers globally expect business travel volume to increase this year, according to the 2025 Global Travel Managers Report from meetings, events, and hospitality technology provider Cvent.
Despite this confidence, the report found that business travel spend is predicted to remain about the same in 2025 as in 2024, while 71% of travel managers expect costs in 2025 to be higher than in 2024 – showing how rising travel costs will continue to put some pressure on travel programs.
Cvent’s latest report, based on a survey of more than 1,600 business travel professionals across six global regions and 18 countries, explores expectations and behaviors around corporate travel. Notably, as travel costs trend upwards, there has been a centralization of travel and meetings management, with 91% of travel managers saying they are also responsible for sourcing hotels and venues for meetings and events (up from 64% in 2017). According to respondents, one of the top reasons for consolidating the management of travel and meetings is to lower costs, with 83% of those who jointly manage employee travel with meetings and events programs saying that consolidation has resulted in cost savings.
Key North America insights:
- As North American travel managers navigate hybrid work models and economic pressures, they remain focused on fostering in-person connections. Conferences and trainings lead as the most sourced meeting types, even as budget cuts target event and conference travel, highlighting a tension between strategic priorities and financial pressures. Centralized sourcing is also becoming the norm in North America, as technology investment remains strong—underscoring a shift toward more resilient and efficient travel strategies.
- 69% cite event and conference travel as a core reason for travel, the highest globally, followed by networking (52%).
- Top event types facing budget cuts include event and conference travel and trade shows, a stark contrast to the global view, which puts internal meetings, incentive trips and company retreats at the top of the potential cut list.
- Globally, travel managers also plan to curb costs by negotiating lower hotel room rates in exchange for convenience (25%), reducing the number of people traveling (23%) and sourcing hotels across different brand scales (23%).
- Sourcing management is becoming more centralized, with cost savings (58%) and operational efficiency (48%) as the top drivers for merging business travel with meetings and events.
- Meanwhile, rate strategies are shifting as negotiations become more challenging, with 57% of respondents saying the lack of flexibility is the biggest challenge in travel negotiations.
42% of travel managers in North America reported a preference for a mix of fixed and dynamic pricing, while 25% still rely on fixed rates, higher than any other region. - Technology adoption is strong: only 9% plan to reduce tech budgets, while 30% are spending more time using tech to research hotel partners.
“In the face of economic uncertainty and shifting workplace dynamics, North American travel managers are demonstrating resilience and adaptability,” said Janine Alsalam, VP, sales, Cvent. “These professionals are finding new ways to balance cost consciousness with lofty corporate goals, ensuring that business travel and face-to-face meetings continue to deliver value across their organizations. It’s also exciting to see companies bringing together travel and meetings, achieving impressive outcomes, with 83% reporting cost savings of up to 20%.”
