In 2023, the number of overnight stays in rented accommodations during outbound business trips in Germany stood as a baseline for projected forecasts. Starting in 2024, a significant decline is projected, with an annual drop of 10.2% for 2025 and 11.1% in 2026. This downward trajectory continues at 12.3% in 2027 and at 13.7% by 2028. The five-year Compound Annual Growth Rate (CAGR) highlights a consistent annual decrease, indicating a 14.0% reduction on average per year from 2024 to 2028.
Future trends to watch:
- Increased adoption of virtual meetings reducing the need for business travel.
- Regulatory changes or advances in sustainability practices influencing travel choices.
- Potential recovery post-2028 if economic or technological factors shift travel patterns.
- Impact of emerging markets in Europe influencing outbound travel demand.
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