Skift Take
Big companies are on the move again, but the business travel growth engine — small- to medium-sized businesses — took a step back because of high interest rates and inflation.
Much of the discussion about business travel revolves around large corporations that have strict managed-travel policies. They require employees to book trips through sanctioned tools and at hotels and airlines that give corporations volume discounts.
In the first quarter, those corporations delivered significant gains for American Express Global Business Travel, the world's largest travel-management company.
AmexGBT saw strength in transactions from global multinational corporations — tech companies in particular, with 30% growth.