Business travel elasticity has traditionally been around 0.4, meaning business travellers will tolerate higher fees with only a small drop in demand. But there would still be a drop.

What no one has mentioned here so far is that the $250 additional visa fee is refundable. But it's not automatically refunded. You have apply for it after meeting some basic conditions. So for businesses, it's really a much smaller administrative cost.

So far the process for applying for the refund hasn't been established. So it's all a bit of a hot mess still.