Summary:
- Approximately 75 percent of travel managers expect business travel to rise in 2025, according to Cvent, but travel spend is expected to remain flat, while 71 percent anticipate higher costs.
- Cost reduction is a key reason for consolidating travel and meetings management, with 83 percent of dual managers reporting savings.
- Only 9 percent plan to cut tech budgets, while 30 percent are spending more time using technology to research hotel partners.
APPROXIMATELY 75 PERCENT of travel managers globally expect business travel volume to rise in 2025, according to Cvent. However, travel spend is expected to remain flat, while 71 percent anticipate higher costs, putting pressure on travel programs.
Cvent’s 2025 Global Travel Managers Report found that North American travel managers continue to prioritize in-person meetings despite hybrid work models and economic pressures.
“In the face of economic uncertainty and shifting workplace dynamics, North American travel managers are demonstrating resilience and adaptability,” said Janine Alsalam, vice president of sales at Cvent. “They are finding new ways to balance cost consciousness with corporate goals, ensuring that business travel and face-to-face meetings continue to deliver value. It’s also encouraging to see companies bringing together travel and meetings, with 83 percent reporting cost savings of up to 20 percent.”
The report, based on a survey of more than 1,600 business travel professionals across six regions and 18 countries, examines expectations and behaviors around corporate travel.
North America insights
North American travel managers continue to prioritize in-person meetings despite hybrid work models and economic pressures, the report said. Conferences and trainings are the most sourced meeting types, even as event and conference travel faces budget cuts, reflecting tension between business goals and cost control. Centralized sourcing is increasing and technology investment remains steady, supporting more integrated travel strategies.
Around 69 percent of respondents cite event and conference travel as a primary reason for travel, the highest globally, followed by networking at 52 percent. Top event types facing budget cuts include event and conference travel and trade shows, in contrast to the global trend targeting internal meetings, incentive trips and retreats.
Globally, travel managers plan to reduce costs by negotiating lower hotel rates for convenience at 25 percent, sending fewer travelers at 23 percent and sourcing across different brand scales at 23 percent, the study found. Sourcing is becoming more centralized, with cost savings cited by 58 percent and operational efficiency by 48 percent as the main reasons for combining business travel with meetings and events.
Rate strategies are also shifting; 57 percent say lack of flexibility is the biggest challenge in travel negotiations. Around percent of North American travel managers prefer a mix of fixed and dynamic pricing, while 25 percent still rely on fixed rates—the highest among all regions.
Technology use remains strong: only 9 percent plan to reduce tech budgets, while 30 percent are spending more time using technology to research hotel partners.
Coping with travel costs
As travel costs rise, travel and meetings management has become more centralized. Ninety-one percent of travel managers are now responsible for sourcing hotels and venues for meetings and events, up from 64 percent in 2017.
According to respondents, a top reason for consolidating travel and meetings management is cost reduction, with 83 percent of those managing both reporting savings.
A recent Global Business Travel Association report found that U.S. companies are missing more than $2.4 trillion in potential sales due to underinvestment in business travel, with spending still $66 billion below 2019 levels.
