Business Travel Bookings Increased 3% for Domestic Flights, 6% for International Flights in 2024

Travel in the U.S. has shown a significant rebound, with volume nearing pre-pandemic levels. Domestic air travel is expected to grow 3% annually by the end of 2024, according to Oxford Economics data cited by McKinsey. 

At SAP Concur, we’ve seen a similar rebound in business travel bookings. “Overall, domestic air travel volume for business trips is up 3% year over year,” said Charlie Sultan, president of Concur Travel at SAP Concur. “The return to business travel is driven by business travelers’ enthusiasm. This year’s SAP Concur Global Business Travel Survey revealed that 76% of global business travelers enjoy business travel and 67% feel it’s critical for career advancement.” 

To get a sense of the state of business travel, SAP Concur analyzed domestic and international air travel bookings in Concur Travel between January 1, 2024, and December 31, 2024, and compared airfare and overall travel volume to the same timeframe in 2023. It found:  

• Overall domestic travel volume is up nearly 3% year over year. January, February, April, and July were popular months for business travel. July saw the greatest increase in travel bookings compared to last year with an 11% increase.
• Overall international travel volume increased nearly 6% year over year. International travel volume increased most months in 2024. Like with domestic travel, January (13%), February (13%), April (12%), July (13%), and December (16%) saw the largest increases year over year for international business travel. 

2024 Travel Volume 

• Business travelers on the move in January. January was the busiest month for domestic business travel in 2024 as business travelers got back on the road following the holidays.  
• Business travel dipped in December. Despite large year-over-year increases, December was the slowest month for domestic and international business travel. 

• Domestic airfare remained inflated from 2023 prices. Average airfare for domestic trips was consistently up this year compared to 2023. The only exception was a 1% decline in June. 
• Looking at 2024 airfare only, average ticket prices dropped in the summer. March was the most expensive month for domestic airfare at an average of $597 per ticket. However, the average cost dropped to $555 per ticket in July and continued to decline with August seeing the lowest average ticket price of $540. 

• International travel costs remained flat in the first half of the year. In contrast to domestic rates, international airfare was more comparable to 2023. In Q1 and Q2, airfare remained fairly flat with only 0-2% decreases or increases. However, prices have steadily risen during the second half of the year with the increase accelerating from a 1% increase in July to an 11% increase in December.  
• Looking at 2024 airfare only, average tickets are more expensive in fall and rising compared to 2023. While the lowest average international ticket price was $2,588 in July, the average prices ticked to $2,821 in September.   

The future of business travel is bright. Travel volumes are approaching pre-pandemic levels, international airfare has stabilized, and as U.S. inflation appears to cool, domestic prices will hopefully normalize as well. At SAP Concur, we share business travelers’ enthusiasm for the next trip.