Report finds business travelers staying home amid ‘economic uncertainty’

A new report finds that 40% of U.S. business travelers who took at least three trips a year before the pandemic expect “never again” to travel for work due to rising prices.

In the report released Thursday, Morning Consult found that another 9% believe they’ll travel again within the next month, 14% believe they’ll travel in the next 1-3 months and 13% believe they’ll travel again in the next 4-6 months.

The remaining 24% were split evenly between those expecting to travel in 7-12 months and those expecting to travel in “over a year.”  

The poll found the share of Americans who plan on work-related trips in the coming year dropped by 10 percentage points between February and May as rising prices increased travel expenses.

After a busy early summer travel season, the report found “economic uncertainty” driving businesses to cut funds for blended business and leisure trips, leaving workers to pay for more costs out of pocket.

“While concerns of rising COVID-19 cases may play a part in this decline, a more significant factor is the economy,” Morning Consult said.

Although inflation in consumer prices is leveling off, the costs of gas, airfare, food and lodging have all skyrocketed amid a post-pandemic summer rebound in travel demand.

Morning Consult found the shares of adults planning to travel domestically, travel internationally, stay in a U.S. hotel or fly in the coming year have all plummeted since 2021 as a result.

According to the report, 43% of the 2,200 Americans who answered multiple surveys from last October to this month say they’re traveling less this summer “because of high prices.”

“Business travel will never return to normal,” Morning Consult concluded.

The report comes as polls have shown Americans cutting back on routine travel and commuting to save up for holidays like the upcoming Labor Day weekend.

According to a June survey from AAA Mid-Atlantic, a quarter of Washington, D.C., drivers took fewer trips this summer because of high gas prices — and nearly 20% adjusted their dining and lodging budget.

AAA spokesperson Ragina C. Ali says Labor Day weekend travel will “likely reach pre-pandemic levels” as Americans hit the road again.

“Record high summer gas prices haven’t deterred road trippers and AAA does not expect Labor Day weekend travel to be any different,’ Ms. Ali said. “However, motorists tell AAA they have adjusted driving behavior and vacation spending to accommodate for higher gas prices.”