Corporate Traveler has announced the release of its official “2024 Year in Review Report,” which provides a comprehensive, data-driven overview of the past year in business travel. The findings were sourced through a strategic analysis of air, hotel, train and car rental bookings made in 2024 by the company’s U.S. clients, offering a reflection of the SME business travel landscape across the country.
Throughout the in-depth report, Corporate Traveler blends customer data with qualitative, actionable insights to examine the shift in travel behavior over the last year, as well as explore the key trends that continue to shape the industry. The report dives deep into these trends that focus on cost savings, evolving preferences in airline booking, the growing adoption of traveler-focused tech, and more, while also giving custom strategies for companies to optimize their travel programs in 2025.
With more companies committed to devising cost management solutions in the year ahead, a breakdown of travel costs from the report is offered below:
- Air travel up costs down – Flight bookings increased by 9 percent YoY, while the average cost of a flight decreased by 4 percent, from $930 to $891. Economy tickets were the top purchased ticket at 93 percent of domestic and trans-border flights and 69 percent of international flights. Premium economy tickets are growing at one of the fastest rates, up 27 percent YoY.
- Short hotel stays – The average hotel stay was for three nights, with the average cost at $190 per night
- Car rental snapshot – The average daily spend on car rentals was $78, with the top vehicle selection being intermediate, followed by full-size and standard
- Self-booking for trains on the rise – The average train ticket price was $238, with 49 percent of trips booked by the traveler
Furthermore, Corporate Traveler shared the top destinations for business travel in 2024, based on an analysis of around 625,000 total trips taken throughout the year by approximately 185,000 different travelers. Highlights from the report include:
- Top five domestic air routes – Boston/New York LGA, New York LGA/Chicago O’Hare, Boston/Philadelphia, New York JFK/Los Angeles, Boston/San Francisco
- Top five international air routes – New York JFK/London Heathrow, Boston/London Heathrow, Newark/London Heathrow, Washington D.C./London Heathrow, Los Angeles/London Heathrow
- Top five U.S. hotel cities – New York, Boston, London, Chicago, San Francisco
- Top U.S. train route – New York/Penn Station to Washington D.C.
For more information, visit www.corporatetraveler.us.
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