Business travel is likely to decline in 2025 due to U.S. policy shifts, according to a new survey.

The report, conducted by the Global Business Travel Association, was released earlier this month and is based on a poll of more than 900 business-travel professionals around the world conducted in March and April. A third of business travel buyers (29 percent) said they expect a decline in business travel volume this year, and 27 percent of them predict a 20 percent decrease on spending this year.

The GBTA report attributes these declines in part to White House actions around the economy and international travel. “Imposing significant tariffs on imported products. U.S. entry restrictions for travelers from specific countries, cross-border policies and decreased business travel for federal employees ─ in addition to resulting advisories against travel to the U.S. from several countries … could dampen business travel,” the report said.

That shift has prompted firms outside of the United States to reassess their travel policies: According to the report, 11 percent of non-American buyers have adjusted their travel policies to or from the United States since January; 27 percent say they plan to or are considering it.

Similarly, while respondents haven’t canceled U.S. meetings or declined to attend them in substantial numbers, it’s on the minds of many: 13 percent have canceled U.S. meetings, and 10 percent have canceled plans to send attendees to U.S. events. Fourteen percent have moved their meetings outside of the United States.

The biggest concern among respondents seems to be growing costs: A majority (54 percent) of respondents said their chief concern is “higher costs related to business travel,” followed closely by “additional processing/administration needs” for matters such as visas, at 46 percent. As the report noted, “Tariffs can raise the price of everything ─ from airplanes to cleaning supplies used at hotels.”

“While the outlook for global business travel was incredibly strong coming into 2025, our research now shows increasing concerns and uncertainty within our industry, considering recent actions taken by the US government,” said GBTA CEO Suzanne Neufang in a release. “Traveling for work plays a vital role in supporting business growth, resilient economies, strong diplomatic ties and valuable connections.” 

A similar poll of European companies conducted by BT4Europe, a group of European business-travel associations, revealed similar anxiety around travel to the United States. According to a release about the survey [PDF], “A significant number of respondents (88%) observed a rising risk of deportation or detention for European business travelers attempting to enter the United States, with some pointing to heightened scrutiny for dual nationals, members of the LGBTQ+ community, and those who had voiced political opinions on social media.”