The insights into the state of travel were captured through UATP's proprietary technology, the company's global transaction processing system, ATCAN. As a notable provider of payment solutions for corporate travel, UATP’s observations provide some sound insights into the sector.
UATP says it has reached 95% of 2019 volume levels for corporate travel in 2023, while leisure travel shows growth well over 100% within the same period.
"This is fantastic news for the airline and broader travel industries, as well as overall economic growth, which relies on travel connectivity," explains Ralph Kaiser, UATP’s President and CEO.