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Business

travel spending

ticks up

pending on corporate business travel
took a precipitous dive during two
years of pandemic restrictions and
uncertainty but is expected to
S rebound in 2022, according to the
Global Business Travel Association (GBTA). In an
international survey released in November 2021,
the GBTA found that 52% of CFOs surveyed
expected that their “travel spend would reach 2019
levels in 2022”. The GBTA predicts that global
spending on business travel will top $1 trillion in
2022 but not reach pre-pandemic levels until the
end of 2024. However, emerging variants of the
coronavirus, uneven global vaccination rates,
conflicting international regulations, and
corporate carbon reduction mandates may put a
PHOTO BY LEV RADIN/REUTERS The recently opened pedestrian skybridge
damper on business travel’s recovery.

leads to the new Terminal B at New York City’s
LaGuardia Airport. The $4 billion terminal
project is 90% complete and is expected to be
finished later this year.