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US Companies Step Up Travel, Shrug Off Economic Uncertainty

  • Fares decline after summer surge, dropping below 2019 levels
  • Travel manager TripActions sees ‘blockbuster’ season for trips
Demand is climbing but average booked fares were down 23%.

Demand is climbing but average booked fares were down 23%.

Photographer: Bing Guan/Bloomberg
Updated on

US companies are overlooking uncertainty about the economy and booking fall trips at nearly six times last year’s rate after a flat summer for business travel, according to an analysis.

While demand is climbing, average booked fares were down 23% to $419 in August from $543 in mid-May, travel manager TripActions said in a new report. That was about $10 cheaper than in August 2019.