SINGAPORE, 9 June 2023: The recovery in global business travel will overtake leisure in July, according to the latest research from ForwardKeys, based on the most recent flight ticketing data available.
ForwardKeys vice president insights Olivier Ponti explained: “Throughout the Covid-19 pandemic, business travel flight bookings have been slower to recover than leisure, and that trend continues. However, that situation now looks likely to change.”
ForwardKeys points to 30 May as a tipping point that indicates advance booking data trends may monitor a recovery in business travel overtaking leisure booking recovery in July.
“The trend is set to reverse in July, with the recovery in business travel overtaking the recovery in leisure – as business flight bookings are 14% behind pre-pandemic (2019) levels and leisure are 16% behind,” explained Ponti.
“Furthermore, the gap will probably widen in the autumn, as business bookings for September are just 1% behind 2019, whereas leisure is 8% behind. The trend of leisure leading the recovery could continue if there is a late surge in summer holiday bookings. Still, the rise in inflation, including the price of hospitality and airline tickets, makes that unlikely.”
Founded in 2010, ForwardKeys has pioneered the way forward for tourism organisations, hotels, and retailers keen to understand who travels where, when, and for how long.