A new report from GBTA shows that $178 billion in business traveler spending across 25 cities contributed $93 billion in local GDP, nearly $55 billion in tax revenue and 1.4 million jobs, with New York, Tokyo and London ranked highest for spending. The study, called GBTA Global Cities Business Travel Economic Impact, was based on 2024 data. Business travel and travelers generated an estimated $283 billion in total economic activity across 25 of the world’s leading business destinations.
The new global economic impact study, conducted with Rockport Analytics, measures the role and value of business travel from the destination perspective. This includes examining what domestic and international business travelers spend while in a city for the purpose of work and the resulting economic activity that their spending generates throughout local economies.
Suzanne Neufang, CEO of GBTA, said, “Business travel is a powerful driver of economic growth, and this study reflects its far-reaching impact.” She continued: “When people travel to meet, collaborate and build relationships, the benefits extend well beyond the traveler and their organization, generating jobs, income, tax revenue and opportunity in communities around the world. More than a catalyst for commerce, business travel is an investment in economic opportunity and sustained growth for communities worldwide.”
Business travel spending is concentrated in some of the largest destinations in the world, according to the report. Seven cities each exceeded $10 billion in 2024 and together accounted for more than $108 billion, or 61% of the total across the 25 cities studied.
The seven most impacted cities were: New York ($21.2 billion in business travel spending, $13.7 billion in GDP contribution), Tokyo ($20.7 billion and $11.88 billion), London ($15 billion and $6.4 billion), Shanghai ($14.2 billion and $3.6 billion), Paris ($13.6 billion and $8.3 billion), Los Angeles ($12.2 billion and $7.1 billion) and Chicago ($11.6 billion and $6.6 billion).
Significant business travel activity extends well beyond these seven, across North America, Europe and Asia, and into commercial centers in the Middle East, Latin America and Australia.
The study covers managed and unmanaged travel across a broad range of trip purposes, including meetings and conventions, sales and customer engagement, training, internal company meetings, incentives and operations. Spending is measured from the destination perspective, which differs from the origin-market view used in GBTA’s Business Travel Index (BTI), which measures spending by businesses and travelers based in a given market.
The next tier of cities for spending impact included Washington DC ($9.4 billion in spending), San Francisco ($6.9 billion), Amsterdam ($5.6 billion), Singapore ($5.2 billion), Frankfurt ($4.7 billion) and Sydney ($4.7 billion). Delhi, Helsinki, Oslo, Dubai and São Paulo each recorded business travel spending of between $1.5 billion and $2.4 billion.
