Navan, a platform for business travel and expense management, has launched the Navan Business Travel Index (BTI), a new global indicator powered by millions of corporate transactions from over 10,000 businesses.
The Navan BTI tracks business travel activity across air, hotel, and expense transactions, segmenting data by spend, volume, and domestic versus international travel. It is constructed using a methodology aligned with the Conference Board’s composite index approach and has been validated by experts from Nasdaq. The index is planned for quarterly updates.
Navan states that the BTI provides unique visibility into corporate decision-making by isolating external pricing factors such as fuel surcharges, currency fluctuations, and inflation to reveal the true volume of travel transactions and company priorities. Amy Butte, Chief Financial Officer at Navan, stated, “With the launch of the Navan Business Travel Index, there’s now a clear, objective way to see how business travel activity stacks up against the broader market. Our goal is to move beyond guesswork, giving everyone in the business travel ecosystem actionable insights on how companies are investing in travel. Whether you’re benchmarking against industry norms, assessing global market strength, or uncovering new growth opportunities, we believe this index puts the facts directly into decision makers’ hands.”
Nasdaq’s economics team conducted back-testing and verification of the Navan BTI, leveraging their expertise in index construction and economic modeling. Navan indicates that Nasdaq’s validation supports the index’s credibility and value as a benchmark for business travel activity. Phil Mackintosh, Chief Economist at Nasdaq, noted, “At Nasdaq, we engage daily with business leaders and investors who are hungry for fresh, forward-looking insights. The Navan Business Travel Index offers exactly that – a unique, data-driven look at how companies are investing in growth, relationships, and in-person collaboration. This isn’t just travel and expense data; it’s a window into corporate strategy and where business is heading next.”
Key findings from the Q2 2025 report (April 1-June 30, 2025, compared to April 1-June 30, 2024) include a 15% year-over-year increase in business trip bookings on Navan’s platform. International hotel spend grew 17% year-over-year, surpassing the 12% year-over-year growth in domestic U.S. hotel stays. Travel spending patterns also shifted, with taxis and rideshare transaction volume increasing 22% year-over-year, and personal meal transactions rising 10% year-over-year, while transactions for team events saw a minor decline of 0.1%. Certain sectors demonstrated significant increases in travel spend, with Financial Services organizations showing a 31% increase and Media & Entertainment organizations an 25% increase in travel activity. The full Navan BTI report is available for download at navan.com/bti.
Navan offers an all-in-one business travel and expense management platform. Nasdaq (Nasdaq: NDAQ) is a global technology company providing data, analytics, software, and exchange capabilities to clients in the capital markets and broader financial system.
