The trade war is rattling global business travel — 4 charts show how

According to a report from the Global Business Travel Association, optimism in the global business travel sector has declined significantly this year. Positive sentiment decreased from 67% in November 2024 to 31% in April 2025, with over 900 business travel professionals surveyed on the impact of tariffs, stricter border policies, and other U.S. government measures introduced this year.

In Canada, the United States, and Europe, more than one in four respondents expressed pessimism about the industry outlook for this year. Nonetheless, 40% of those surveyed felt neutral. Suzanne Neufang, the association’s CEO, remarked on the high level of uncertainty seen in her four years in the role.

The survey revealed that nearly 30% of business travel buyers predicted a reduction in employee trips this year, while around 20% were unsure about the future. Additionally, 27% of respondents expect a decrease in business travel spending.

Concerns were raised about the long-term impact of decisions made by the Trump Administration this year, particularly related to business travel costs and visa processing issues. Despite these challenges, global airfares have slightly decreased, reported FCM Consulting.

Neufang mentioned that while the global business travel market is expected to exceed $1.6 trillion by the end of 2025, uncertainties remain. She suggested that the trade war initiated by the Trump Administration might lead to new business trips as companies seek new partners and markets.

Although leisure travel to the United States has declined in 2025, Neufang believes there are still opportunities for growth in various regions. She emphasized that while there may be challenges ahead, not all is doom and gloom for the industry.