This is according to the new 2027 Global Business Travel Forecast, released last week by the Global Business Travel Association (GBTA) and ALTOUR. The report examines the economic forces reshaping the cost of business travel globally, including energy prices, labour costs, aircraft supply constraints, currency fluctuations and other factors. “Business travel remains a powerful indicator of business confidence. While negotiated group hotel rates remain relatively stable, food and beverage, production and labour costs continue to put pressure on program budgets. While travel cost growth is expected to moderate in 2027, prices are unlikely to return to 2025 levels.