WBTF launches its White Paper Series with "A New Horizon"
[WBTF] Today the World Business Travel Forum is publishing No. 1 in its new White Paper Series. "A New Horizon" (November 2026, 28 pages) is free to download at worldbusinesstravelforum.com/insights. The paper looks at how eight months of conflict in the Gulf changed business travel, how travel buyers adapted, and what companies should plan for in 2027. It uses data up to 5 November 2026. It ends with three scenarios for 2027 and a ten-point action agenda for buyers, suppliers and destinations. Sustainability is a standing lens throughout.
Key findings:
- About 40,000 flights were cancelled across the Middle East in the first ten days of the conflict (Cirium, via Khaleej Times).
- Jet fuel rose from about US$99 to US$209 a barrel between the end of February and early April (IATA Jet Fuel Price Monitor, via AP).
- The International Air Transport Association (IATA) cut its forecast for 2026 industry net profit to US$23bn, down from US$41bn (IATA).
- Dubai International expects about 70 million passengers in 2026, compared with 95.2 million in 2025 (The National).
- Business travel did not stop. It was re-routed and repriced, and 79% of travel buyers named geopolitics as a top risk (WBTF White Paper No. 1).
- The International Monetary Fund (IMF) expects the Gulf to return to growth in 2027, with the GCC at 9.1%, the UAE at 7.7% and Saudi Arabia at 7.9% (IMF Regional Economic Outlook, October 2026, via The National; Zawya).
How the series works: each month, a white paper covers one force reshaping corporate mobility, setting out the data, the main expert assessments and the practical implications. Each quarter, a round-up brings the monthly papers together, updates the figures, tracks which trends held and adds input from the WBTF Buyer Community and Global Councils. Each November, a full-year paper is released at the WBTF Annual Meeting. It draws on twelve monthly papers and four round-ups and is "a record of what happened, supported by sources, and not an opinion piece". Every paper is fully referenced. No. 2 follows in December 2026: "The recovery cycle: rebuilding Gulf connectivity and corporate travel programmes for 2027". No. 3, on AI and the future of corporate mobility, follows in January 2027, ahead of WBTF Dubai 2027.
"Travel buyers control one of the largest controllable costs in any company, but they are often asked to decide without the full strategic picture. Our aim is to close that gap, with research that is sourced, neutral and useful to both the travel manager and the C-suite they report to." – Sabah Kahoul, Co-founder, World Business Travel Forum
"Business does not happen without business travel, and the people who buy it need facts, not noise. The White Paper Series gives travel buyers and their leadership one place to find the evidence, month by month, and a full-year record they can take into the boardroom." – Dominic Short, Co-founder, World Business Travel Forum
"The UAE was built as a meeting point between East and West, and this year has shown why that role matters. When routes were disrupted, the region's hubs became the place where the recovery of business travel was planned and run. For a business community whose work depends on moving people, whether executives, patients or athletes, the UAE is where connectivity, hospitality and trust come together. Hosting the World Business Travel Forum here, and publishing its research from Dubai, keeps that conversation in the place where much of the world's travel passes through." – Hamdan Mohamed Almurshidi, Co-founder and Emirati Partner, World Business Travel Forum; Founder and President, Almurshidi Medical Tourism
Download the paper free: worldbusinesstravelforum.com/insights
Today's five headlines: the global economy and business travel
2. [Americas] Economy: US prices rise faster than expected, and markets look for a Federal Reserve rate rise in December
According to the US Bureau of Labor Statistics, consumer prices rose 0.4% in October against a forecast of 0.3%, and core prices rose 0.3%. Because of gaps in shutdown-era data, no annual rate was published. Federal Reserve Governor Christopher Waller said a 50 basis-point rise should be considered in December, and Dallas Fed President Lorie Logan called for at least two more quarter-point rises (Reuters, via The News & Observer). CME FedWatch puts the chance of a 25 basis-point rise from the current 3.75–4% range at 85% (CBS News). The US 10-year Treasury yield reached 5.00% (Yahoo Finance). In Europe, Deutsche Bundesbank President Joachim Nagel said a December rise by the European Central Bank looks "rather obvious" (Bloomberg).
WBTF view: this is a global story, not only a US one. The Central Bank of the UAE and the Saudi Central Bank usually follow Federal Reserve moves to support their dollar pegs. Higher rates around the world raise the cost of capital, and that is when CFOs look again at discretionary spend, travel budgets included.
3. [GCC] Travel: a month on, business travellers find ways around Riyadh's disrupted airport
A month after missile attacks on King Khalid International Airport, almost a third of Riyadh flights were delayed or cancelled on Monday, according to FlightRadar24 data reported by AGBI. AGBI also reports that no European carrier is flying to Riyadh. Companies are responding in several ways: moving meetings online, routing staff through Qassim's Prince Naif bin Abdulaziz Airport, or driving the 1,000 km from Dubai. Chauffeur firms are offering cross-border transfers to Bahrain from SAR2,000 (about US$530). Gulf Business reports that Etihad's Riyadh and Dammam services remain suspended until 19 November.
WBTF view: these workarounds are a duty-of-care question as much as a logistics one. A 12-hour overnight drive before a working day is a risk that travel policies should name and manage. Buyers with Saudi programmes need clear rules for alternative airports, ground transfers and when to meet virtually.
4. [South Asia] Bridge: high fares and a weaker rupee cut India's festive-season flying
According to Cirium data reported by The Economic Times, Indian airlines scheduled about 6% fewer flights in October and November than a year earlier, the first decline since 2020. Domestic traffic fell 6.5% in September. In the quarter to September, IndiGo's passenger numbers fell 4.5% while yields rose 34%. Its fuel bill rose 67%, and it reported a loss of ₹18.8bn (about US$200m). The pressures include a weaker rupee and longer routes caused by airspace restrictions (Bloomberg).
WBTF view: India is one of the most important source markets for Gulf hubs. When the currency and the fuel bill both work against travellers, price discipline is coming from the economy, not from travel policy. Companies sending staff from India should expect fewer seats and firmer fares into early 2027.
5. [Global] Travel: Accor and Hard Rock International agree a global loyalty and distribution partnership
Accor and Hard Rock International have signed a global strategic partnership (Accor). Hard Rock hotels will be able to join the ALL Accor distribution and loyalty platform, which has more than 125 million members, and both programmes will offer point conversion and status matching. Accor's Ennismore will lead Hard Rock's hotel development across Europe, the Middle East, Asia and the Pacific. Hotel Dive reports that the deal is expected to close by the end of the year.
WBTF view: hotel consolidation through partnerships, rather than acquisitions, changes the content and loyalty landscape that travel managers negotiate against. Buyers should check how new partner brands appear in their booking channels and whether corporate rates and status benefits carry over.
Why this matters
Today's research launch and today's news make the same point. Business travel adapts to shocks rather than stopping, but it does so at a price. That price comes through interest rates, currencies, fuel and network gaps. The 4th edition of the World Business Travel Forum, New Horizon, Dubai, 3 February 2027, will bring buyers, suppliers and destinations together to plan for that reality. Later in 2027, the Annual Conference will aim for a larger audience, and its date will be confirmed soon.
There is no business without business travel.