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Global business travel won't see full recovery until 2026: report

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Plane watchers look on as a jet comes in for a landing at Ronald Reagan Washington National Airport in Arlington, Virginia, USA, 27 June 2022. EPA-EFE/SHAWN THEW" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/07/15/arlington,-virginia,-usa-epa-efe_shawn-thew.jpg"/><figcaption>Plane watchers look on as a jet comes in for a landing at Ronald Reagan Washington National Airport in Arlington, Virginia, USA, 27 June 2022. <em>EPA-EFE/SHAWN THEW</em></figcaption></figure></div><p>NEW YORK, United States - Inflation, supply chain problems and ongoing Covid-19 lockdowns in China are among the factors conspiring to delay a full recovery in business travel to its pre-pandemic level, according to an industry forecast released Monday.</p><p>The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18 months later than predicted in the group&#x27;s last forecast in November.</p><p>&quot;Recovery has hit some headwinds,&quot; GBTA said in a statement that outlined a gradual improvement from a 2020 low of $661 billion until reaching $1.47 trillion in 2026.</p><p>&quot;The factors impacting many industries around the world are also anticipated to impact global business travel recovery into 2025,&quot; said Suzanne Neufang, the association&#x27;s chief executive. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/17/22/problems-soar-for-airlines-despite-pandemic-recovery">Problems soar for airlines despite pandemic recovery</a></li>	<li><a href="https://news.abs-cbn.com/business/07/15/22/airlines-face-fresh-turbulence-post-pandemic">Airlines face fresh turbulence post-pandemic</a></li></ul><p>The group said recovery was &quot;short-circuited&quot; in late 2021 and early 2022 by the Omicron variant of Covid-19, but that trips surged after that once Covid cases fell. </p><p>Major obstacles to a full recovery include high energy prices, labor shortages, Covid lockdowns, regional impacts due to the war in Ukraine and sustainability concerns.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/04/22/philippine-airlines-posts-record-profit-in-first-half-of-2022">Philippine Airlines posts record profit in first half of 2022</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1641303" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Inflation, supply chain problems and ongoing Covid-19 lockdowns in China are among the factors conspiring to delay a full recovery in business travel to its pre-pandemic level, according to an industry forecast released Monday.