Canadian Business Travel Bookings Increased in 2024

Global business travel is rebounding, approaching pre-pandemic levels. At SAP Concur, we’ve observed a rise in business travel bookings. “Canadian domestic air travel for business is up 4% year-over-year,” said Brian Veloso, Managing Director at SAP Concur Canada. “Our survey shows 76% of global business travelers enjoy business travel, and 67% believe it’s critical for career advancement.”

Business Travel Trends

SAP Concur analyzed domestic and international air travel bookings in Concur Travel from January 1, 2024, to December 31, 2024, comparing them to the same period in 2023. Findings include:

• Domestic business travel increased by nearly 4% year-over-year, with January, February, April, and July being peak months.

• International travel saw a 7.83% increase, with notable growth in January (15%), February (15%), April (14%), July (14%), and December (14%).

• December recorded the highest year-over-year growth for both domestic and international travel, reflecting renewed confidence.

Airfare Trends

Domestic Airfare

• The highest increase was in March (+10%), while July and December saw the biggest drops (-8% and -4%).

• Summer months (June to August) had lower fares, making it an affordable time for business travel.

International Airfare

• Airfares declined in the first half of 2024, particularly from June to August, making summer a cost-effective period for global travel.

• Prices stabilized later in the year, with a notable increase in November (+8%), aligning with peak business travel.

The Future of Business Travel in Canada

Business travel in Canada is approaching pre-pandemic levels, showing resilience. Domestic travel remains strong, and international travel is stabilizing. As inflation pressures ease, travel costs are expected to normalize. The continued evolution of business travel presents new opportunities and challenges for organizations, and the future looks promising for Canadian business travelers.

Methodology

SAP Concur analyzed travel booking data from Canada-based travelers in Concur Travel between January 1, 2023, and December 31, 2024.

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