GBTA Forecast: Elevated prices continue through 2026, expected to ease in 2027

Global business travel prices are expected to remain elevated through the remainder of 2026 before beginning to moderate in 2027, with variations expected across regions, according to a new Global Business Travel Association (GBTA) forecast.

In its just-released 2027 Global Business Travel Forecast, the GBTA notes that pricing pressures are expected to ease gradually next year, but travel costs are unlikely to return to prior levels, as many of the forces driving higher prices have become long-term features of the industry rather than short-term disruptions.

Commenting on the forecast, GBTA’s CEO, Suzanne Neufang observed that: “Business travel remains a powerful indicator of business confidence. Companies continue to invest in face-to-face connections, customer relationships and growth despite higher costs and greater complexity.”

Neufang continued: “Business travel may need to weather more uncertainty through this year. In this environment, a well-managed travel program is essential. Realizing travel’s full value will depend on managed programs backed by strategic foresight, data and decision-making.”

Michael Boult, SVP and Chief Commercial Officer of ALTOUR, said that: “The most acute impacts of the early 2026 energy-related inflation were beginning to ease, but we are likely to see elevated fuel-related inflation for the remainder of the year and the operating environment for business travel is not returning to what it was before.”

And Boult pointed out that: “For organizations, the priority now is turning volatility into a more manageable and predictable planning discipline. That means using better forecasting, stronger supplier strategies, enforcing policies and gaining real-time visibility across categories and markets to keep business travel moving.”

The GBTA’s forecast identifies energy prices and labour costs as the two most significant forces shaping business travel pricing.

The 2026 closure of the Strait of Hormuz triggered the largest oil supply disruption on record, driving a sharp increase in crude oil and jet fuel prices and impacting airline operating costs worldwide.

And it reported that although fuel prices have retreated from peak levels, labor costs continue to rise across airlines, hotels, ground transportation and events and meeting providers through multi-year agreements, wage inflation, and ongoing workforce shortages.

Air travel remains the most volatile category in the forecast, reflecting continued exposure to fuel costs, aircraft shortages, labor expenses and premium-cabin constraints.

The GBTA forecast notes that while travel cost growth is expected to moderate in 2027, prices are unlikely to return to 2025 levels. Structural factors including aircraft delivery delays, sustainable aviation fuel (SAF) requirements, labor shortages and geopolitical uncertainty are expected to result in a more costly travel environment.

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