After years of video call substitution, corporate travel managers report that companies are loosening travel budgets as executives rediscover the value of in-person relationship building. Business class cabin occupancy rates have recovered to 91 percent of 2019 levels at major carriers, and premium hotel tiers in business travel markets including New York, Chicago, and Houston are reporting the strongest performance since pre-pandemic.
The recovery is uneven across industries. Technology companies remain the most restrictive about travel, with many maintaining 50 percent reductions from 2019 budgets. Financial services, consulting, and energy sectors have restored travel more aggressively. Travel managers expect the gap between tech and other industries to narrow as return-to-office mandates push more employees back into physical work environments where cross-market collaboration feels more natural.
