Travel Managers Anticipate Growth Despite Economic Pressures

Cvent, a leading provider of meetings, events, and hospitality technology, has released its 2025 Global Travel Managers Report. Despite the challenges posed by rising travel costs and economic uncertainties, the report reveals a resilient outlook among business travel professionals. Notably, 75% of travel managers worldwide expect an increase in business travel volume by 2025. However, the anticipated rise in travel costs is expected to exert pressure on travel programs.

Global Insights

The report, based on a survey of over 1,600 business travel professionals from six global regions and eighteen countries, sheds light on the expectations and behaviors surrounding corporate travel. As travel costs rise, a notable trend is emerging towards centralizing travel and meeting management. Currently, 91% of travel managers are responsible for sourcing hotels and venues for meetings and events, a significant increase from 64% in 2017. The primary motivation for this consolidation is cost reduction, with 83% of those managing both travel and meetings reporting cost savings.

North America Focus

In North America, travel managers are navigating the complexities of hybrid work models and economic pressures while emphasizing the importance of in-person connections. Conferences and training sessions are the most frequently sourced meeting types, despite budget cuts targeting event and conference travel. This highlights a tension between strategic priorities and financial constraints. Centralized sourcing is becoming standard practice in North America, supported by strong investments in technology, which underscores a shift towards more resilient and efficient travel strategies.

Key statistics from the region include 69% citing event and conference travel as a core reason for travel, followed by networking at 52%. Notably, North American travel managers are adopting a mix of fixed and dynamic pricing strategies, with 42% favoring this approach. Additionally, technology adoption remains robust, with only 9% planning to reduce tech budgets, while 30% are dedicating more time to researching hotel partners.

Challenges and Strategies

Globally, travel managers are employing various strategies to manage costs, such as negotiating lower hotel room rates for convenience (25%), reducing the number of travelers (23%), and sourcing hotels across different brand scales (23%). However, challenges persist, particularly in travel negotiations, with 57% of respondents citing a lack of flexibility as the biggest hurdle.

In North America, the preference for a mix of fixed and dynamic pricing strategies is notable, with 42% of travel managers favoring this approach. Despite the challenges, there is a strong emphasis on technology adoption, with only 9% planning to reduce tech budgets.

Conclusion

The findings of Cvent’s 2025 Global Travel Managers Report highlight the resilience and adaptability of travel managers in the face of economic uncertainty and shifting workplace dynamics. As Janine Alsalam, Vice President of Sales at Cvent, notes, these professionals are finding innovative ways to balance cost consciousness with corporate goals, ensuring that business travel and face-to-face meetings continue to deliver value. The report underscores the importance of integrating travel and meetings management, with 83% of respondents reporting cost savings of up to 20% through consolidation.

For a deeper understanding of these trends and strategies, the full report is available for download.