Passengers wait for flights with their luggage at Heathrow airport in London
Luke MacGregor | Reuters
The cost of business travel, from hotels to airfare, is set to rise through 2023 as demand returns more than two years after the Covid pandemic began, according to an industry report published Wednesday.
Business travel airfare is on track to rise nearly 50% this year over 2021, following two years of steep declines, according to a report from travel management company CWT and the Global Business Travel Association. Next year, fares are set to increase more than 8%, the organizations said.
Airline and hotel executives have been upbeat about a return to business travel after Covid-19 and measures to curb its spread, like travel restrictions, forced companies to put many work trips on hold.
While leisure travel has roared back from 2020 pandemic lows, business travel has lagged, depriving…