Optimism within the world enterprise journey sector has dropped by greater than half this yr, in accordance with a report revealed by the International Enterprise Journey Affiliation.
Optimistic sentiment fell from 67% in November 2024 to 31% in April 2025, in accordance with the report which surveyed greater than 900 enterprise journey professionals on the have an effect on of tariffs, tightened border insurance policies and different U.S. authorities insurance policies introduced this yr.
A couple of in 4 respondents in Canada, america and Europe stated they felt “pessimistic” or “very pessimistic” about business outlook this yr.
Nonetheless, 40% of these surveyed stated they felt neither optimistic nor adverse.
“Since I’ve been in my function for 4 years, I have not seen this excessive of a degree of uncertainty,” Suzanne Neufang, the affiliation’s CEO, informed CNBC Journey Tuesday.
The survey confirmed almost 30% of enterprise journey consumers anticipate their firms will cut back worker journeys this yr, whereas some 20% stated they weren’t positive, it confirmed.
“They are not even assured sufficient to have the ability to say issues can be effective or issues will not be effective,” she stated.
Some 27% of respondents additionally stated they anticipate enterprise journey spending to lower as effectively.
Lengthy-term considerations
A 3rd of enterprise journey consumers stated their firms have both modified, or are contemplating altering, insurance policies relating to journey to or from america, the report confirmed.
Some 6% stated their firms had relocated occasions from the U.S. to a different nation.
“From an APAC perspective, and definitely from a European perspective, perhaps even LATAM, there’s the chance to be the supply of the place these conferences happen,” Neufang stated. “There are numerous different alternatives to be a winner on this commerce sport.”
Enterprise journey professionals expressed a number of considerations in regards to the potential for the long-term influence attributable to selections of the Trump Administration this yr, led by worries over enterprise journey prices (54%) and issues processing visas (46%).
International airfares, nevertheless, are barely down — about $17, or 2.2% year-to-date — in accordance with FCM Consulting, a division of the enterprise journey firm FCM Journey.
Not all ‘doom and gloom’
Nonetheless, the worldwide enterprise journey market continues to be on observe to high $1.6 trillion by the top of 2025, Neufang stated.
Nonetheless, she stated that is solely “if the final 100 days do not influence negatively in every single place.”
By 2028, the International Enterprise Journey Affiliation expects, that quantity will cross the $2 trillion mark, she stated. She famous that whereas enterprise journey volumes have not returned to pre-pandemic ranges, enterprise journey spending absolutely recovered in 2024, partly because of inflation.
However she stated the commerce warfare initiated by the Trump Administration may spell a bout of recent enterprise journeys.
“Throughout instances of commerce wars, enterprise journey may very well improve for not less than a time frame — for brand spanking new companions to be discovered [and] new markets to be constructed,” she stated. “You lose a buyer, you have to discover one other one. So I feel that perspective does not imply all doom and gloom for us.”
Nonetheless, if tariffs stay elevated, “There will certainly be an influence to U.S. journey … However I feel Europe, Asia, Europe to Asia, Asia to Europe. I feel wherever to Africa, all of these are in all probability effective.”
Leisure journey to america has fallen in 2025. Worldwide customer spending is projected to drop 4.7% from 2024, representing some $8.5 billion for the U.S. journey business, in a yr revenues have been as soon as broadly anticipated to develop.
— CNBC’s Bella Stoddart contributed to this report.
