Business travel professionals are “cautiously optimistic” entering 2026, according to a new survey.

The Global Business Travel Association’s new report is based on responses in January from 571 professionals in 40 countries. While a majority of respondents (59 percent) say they are optimistic about the year ahead, that perspective is down 8 points from a similar poll conducted in late 2024.

To some extent, travel buyers seem to feel the industry is weathering the challenges around tariffs and immigration policies that clouded many of their projections last year. According to the new survey, 35 percent of buyers expected an increase in travel volume this year, with only 16 percent predicting a drop. And 42 percent of buyers said they anticipated growth in the number of business travelers.

Economic headwinds are keeping budgets from growing—only 10 percent of respondents anticipate a substantial increase—but a strong majority (65 percent) expect budgets to remain steady or grow slightly. “After a tough 2025 rife with news around white collar layoffs and general economic slowdowns, most travel management teams have been able to command stability in their operating budgets,” the report notes. “However, about 1 in 5 are experiencing cost-cutting.”

“The results show an industry propelled by anticipated stronger demand and financial indicators, yet potentially constrained by external factors that could reshape business travel in the year ahead,” GBTA CEO Suzanne Neufang said in a statement. “Traveling for work is critical to how global companies and economies grow, innovate and connect. We need to ensure it remains accessible, safe, and seamless ─ and that every trip counts.”

Economic and policy changes have understandably made affordability the most-cited concern for travel professionals, with 74 percent saying they’re very or somewhat concerned about costs. But treatment of travelers isn’t far behind: 65 percent say they’re concerned about the safety of employees while traveling, and 61 percent say they’re concerned about obtaining visas for business travelers.

More specifically, professionals say they are worried about the potential impact of proposed changes to the Electronic System for Travel Authorization (ESTA), which allows business travelers to enter the United States for short-term visits without obtaining a visa. In December, the Department of Homeland Security announced it was considering new requirements around ESTA, including that travelers from outside the United States provide their social media handles, biometric data, and other personal information. The U.S. Travel Association criticized the move, saying in a release in December that such changes “could have a chilling effect on travel to the United States.”

Respondents to the GBTA survey seemed to agree, with 78 percent saying they were somewhat or very concerned about the proposed changes. More than three-fourths of respondents also said the changes would erode employee willingness to travel to the United States, impact the cost of doing business in the country and increase the difficulty of managing travel there. A slight majority (52 percent) said they were more likely to hold more meetings and conferences outside of the United States.

“The biggest opportunity of 2026 is around balancing cost pressure, traveler satisfaction, and operational complexity – while keeping an eye on geopolitical and policy-driven disruptions,” the report said.